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4 bedroom fully detached duplexes on Allen avenue, Ikeja, Lagos

Fixed Rate vs. Adjustable Rate Mortgages

Conventional loans include fixed rate and adjustable rate mortgages. A fixed rate mortgage has a predetermined interest rate throughout the life of the loan; the most common are for 30 years. An adjustable rate mortgage has a variable interest rate; the most common are for 5, 7, or 10 years.