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What fixed rate mortgage options are available for refinancing?

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What fixed rate mortgage options are available for refinancing?

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Fixed rate mortgages usually come with the following options: 15 year, 30 year, and 40 year terms. The shorter the life of the mortgage, the lower the interest rates are; unfortunately, this also means higher monthly payments and a larger down payment will be required. The most common term for a fixed rate mortgage is 30 years.

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