Vermont fixed-rate mortgages
The conservative fixed rate mortgage suits the conservative lifestyle predominant in Vermont. In a state where little changes except for the seasons, homeowners find comfort knowing their mortgage interest rate, monthly payment, amortization schedule, and maturity term will never change. They need not worry about having to refinance to cover huge balloon payments. The most popular FRM is the 30-year, but lenders also offer shorter and longer terms. They can be structured for as little as 10 years or as long as 50 years. As an incentive, interest rates on shorter term loans typically are lower than what’s offered on longer term FRMs.
