Types of mortgages

At the time of taking out a mortgage must take into account the interest rate. That being the percentage applied to the amount that comes from the mortgage and that is paid to the financial institution. The main types of mortgages are:

·  Interest rate fixed: are those in which the interest rate does not change during the entire period in which the mortgage is paid.

·  Interest rate varies: are those in which the interest rate changes during the life of the mortgage on the basis of a reference rate, usually reviewed every year. The most widely used index is Euribor.

·  Mixed Interest rate: are those who negotiates with the financial institution a term fixed rate and the other, usually longer than the previous variable rate.