A fixed-rate mortgage is a home loan option with a specific interest rate for the entire term of the loan. Even with the specificity of the term of fixed-rate loans, there is a range of options.
"Conventional mortgage" or "conventional loan" is a term you'll always encounter when shopping for a mortgage. After all, this common mortgage type is provided by most lenders.
A condominium, or condo, is one of the most prevalent forms of residence among working professionals in urban areas and young couples embracing the joy of first-time homeownership.
A VA loan is a mortgage provided through a U.S. Department of Veterans Affairs program available to active and veteran service personnel and their surviving spouses.
You may need a mortgage to finance the purchase when you buy a new property. A jumbo mortgage can provide you the larger funds traditional loans do not cover.
An FHA loan is a government-backed mortgage loan that allows you to buy a home with looser financial requirements. You may qualify for an FHA loan if you have debt or a lower credit score.
If you're eyeing a piece of land rather than an existing house because you want to build from scratch, you probably won't be able to get a regular mortgage to finance the purchase.
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