Explore the topic of mortgage rates
After a grace period, the balance of the loan may be due on a much faster schedule than a comparable amortizing loan, or the entirely of the remaining balance may be due in a single payment. * Available as either an adjustable rate loan or a fixed rate loan. Just as with an amortizing loan, the size of the monthly payments either varies or stays the same. However, you should take into account the effect of the grace period upon the interest rate. * Interest rates are often considerably lower than interest rates for comparable amortizing mortgage loans during the grace period.