*** Fixed-rate mortgages are much more favorable than variable-rate mortgages *** 77% of US home buyers prefers fixed-rate mortgages -20-year KHFC fixed mortgage rate (basic: 6.7%, could be as low as 6.5%) is roughly the same as the three-year variable mortgage rate offered by private sector originators, including commercial banks. -In the US, analysis shows that fixed-rate long-term mortgages are more beneficial than variable-rate long-term mortgages. -The P & I level payment is a much more common means of amortization than either the principal level payment method, which requires a substantial down payment, or the bullet payment method, which entails paying off the entire principal at maturity.