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Yeah. In the US you can get a fixed interest rate for the whole term. So your interest rate is 5% for 30 years, payments are the same for 30 years, until the outstanding mortgage is $0.
In the UK we have similar mortgage terms (you have a mortgage for ~30 years) but the interest rate is only fixed for a short part of that. When the fixed interest period ends, you remortgage, but generally speaking the date of your final payment doesn't change. Your interest rate and payments go up and down roughly in line with the base rate when you remortgage
Not many people pay off their entire mortgage in 10 years in either country!
frankenbike
hippy
on that website it says:
which I thought means the interest rate is fixed for those years?