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 $832,750 in...
If you're a real estate investor, there’s a smarter way to finance your next property. A DSCR (Debt Service Coverage Ratio) loan allows you to qualify based on the income your property generates—not your tax returns, W-2s, or pay stubs. No income verification. No unnecessary paperwork. Just a focus on cash flow.
A reverse mortgage is a specialized home loan designed for homeowners age 62 and older that allows you to convert a portion of your home’s equity into cash. Unlike a traditional mortgage—where you make monthly payments to a lender—a reverse mortgage works in the opposite way. You receive funds from the lender, and repayment is typically deferred until you move out of the home, sell it, or pass away.
A Home Equity Line of Credit (HELOC) is one of the most flexible tools available to homeowners. Simply put, it allows you to tap into the equity you’ve built in your home and use it when you need it—without refinancing your entire mortgage.