Fixed rate mortgages often referred as a Vanilla Wafer mortgage loan. This particular loan interest rate remains the same throughout the term of the loan. Opposed to others where the interest rate may adjust or “float”. You will know how much interest paid over the term of the loan also, in early years it consists primarily of tax-deductible interest. The cons of this would be; private companies and lenders usually charge for this service but it’s a costly way to shorten the life of the loan and interest
