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A mortgage is a loan given to you by a bank, typically in the form of a variable-rate long-term debt. The difference between a fixed rate mortgage and a variable rate mortgage is that with a fixed rate mortgage, the interest rate remains unchanged throughout the entire term of...

The mortgage renewal process is a way to refinance your existing loan. After 18 or 36 months, the interest rates on the loan are re-adjusted to the current market rate at that time. If you have a good credit score and your income has increased, it’s likely that you will be able...