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.
Get Started
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 $766,550 in...
USDA loans are low-interest mortgages with zero down payments, designed for low-income Americans who may not have sufficient credit to qualify for traditional mortgages. You must use a USDA loan to buy a home in a designated area...
When embarking on the journey to build your dream home, understanding the financial aspects is as crucial as the design itself. Among the financing options available, construction loans stand out...
If you're a real estate investor who has rental properties, DSCR loans (Debt Service Coverage Ratio loans) can be a powerful financing option. Unlike traditional mortgages that depend on your personal income and employment history, DSCR loans qualify you based on the income potential of the property itself.
Non-QM loans, also known as Non-Qualified Mortgages, are designed for borrowers who may not meet the traditional criteria for homebuyers. Unlike conventional loans that adhere to strict guidelines set by government-sponsored enterprises, Non-QM loans provide more leeway..
