Fixed, variable, fixed-period, repricing, and rate risk — what each structure does to your payment.
Fixed rates cost more now but remove interest-rate risk; variable rates are cheaper now but shift that risk to you — choose variable only if you can absorb a 2–3 point rise without selling.
A fully fixed rate (including Flat 35) holds for the entire term. A fixed-period or fixed-selection loan (e.g. 10-year fixed) fixes the rate for an initial window and then reprices at the then-current rate and contractual discount — a 10-year fixed loan is not a 35-year fully fixed loan. A variable rate is reviewed periodically, commonly twice a year. A mixed-rate loan splits the borrowing between variable and fixed portions, reducing concentration but requiring you to manage two sets of assumptions.
Variable-rate loans now require a genuine stress test. A household that can afford a loan only at the initial rate cannot safely afford that loan. Choose variable only if the household survives a 2–3 point rise without selling — model the payment at +1, +2, and +3 points and check that stressed housing costs stay within a prudent share of net income. Fixed removes specified interest-rate risk, but not income, property, inflation, or life risk, so it is not "risk-free."
Key points to carry away: Fixed (including Flat 35) locks the rate; a 10-year fixed-selection loan resets after 10 years; Variable is reviewed periodically; the household bears any increase; A borrower who can only afford the loan at the initial rate cannot safely afford it; Mixed-rate loans split exposure but add complexity and two sets of assumptions. Use the linked guides and calculators for the full decision, and confirm anything material with the lender, a licensed broker, a judicial scrivener, or a tax accountant before you act.
Fixed-rate mortgage · Japan Housing Finance Agency
A long-term fixed-rate mortgage program backed by the Japan Housing Finance Agency, offered via partner lenders and often accessible without permanent residency.
Fees: Rate and fees vary by lender and loan-to-value — verify current terms.
A rate fixed for a defined period or the entire loan.
A rate that can change under the loan’s review rules, commonly reviewed twice a year.
No. It removes specified interest-rate risk, not income, property, inflation, or life risk.
Yes, under some payment-limiting structures, when interest exceeds the scheduled payment it can accumulate as unpaid interest.