There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we're here to help you choose the best type of home loan for your needs.
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The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan's lifetime.
Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions. Typically, these loans carry a fixed-i...
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and...
A conventional loan is a type of loan that is not insured by the government. Conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no ...
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $806,500 in...
USDA Loans, backed by the U.S. Department of Agriculture, are designed to make homeownership more accessible for low- to moderate-income borrowers in eligible rural and suburban regions. Offering zero down payment options and competitive interest rates, USDA Loans can be a game-changer for qualified homebuyers looking to keep upfront costs low.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
Bank Statement Loans are a specialized Non-QM (Non-Qualified Mortgage) product designed to help self-employed or commission-based borrowers obtain financing using their bank deposits rather than traditional income verification documents...
Asset-Based Loans allow borrowers to qualify for a mortgage primarily using liquid assets, investments, and retirement accounts rather than the conventional measures of monthly income or employment history...