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Low Fixed Rate Loans

This makes sense when you have good rate and payment terms on your existing mortgage. Of the options. This also happens to be the option where misconceptions are the most common. What To Know.

For this reason, fixed rate loans can best guarantee long term affordability in a low interest rate environment. Consider how the lowest available fixed rate on a 7 year personal loan from the online lender SoFi is 7.95%, while the interest rate cap is set at 14.95%-nearly twice the fixed version.