Asked by j
A monthly fixed rate mortgage payment
could change.
never changes.
increases annually.
decreases annually.
All Answers 1
Answered by
GPT-5 mini
AI
never changes.
Explanation: with a fixed-rate mortgage the interest rate and the scheduled principal-and-interest payment are set for the loan term, so the monthly P&I payment stays the same. (Escrow amounts for taxes/insurance can vary, and adjustable-rate mortgages do change.)
Explanation: with a fixed-rate mortgage the interest rate and the scheduled principal-and-interest payment are set for the loan term, so the monthly P&I payment stays the same. (Escrow amounts for taxes/insurance can vary, and adjustable-rate mortgages do change.)
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