Common Home Loan and Mortgage Types
Below you’ll find our common list of loan types. In today’s market there are all kinds of loan types. These are the ones that are seen most frequently from day to day.
A common loan type because there are less restrictions to qualify. It is a mortgage loan that is not fully guaranteed or backed by government funding. Typically it is fixed in its rate and terms.
FHA and VA Loans
FHA-Loans insured and made by approved FHA lenders in accordance with it’s regulations. VA-Loans approved to qualify our service members and vets. Backing it’s buyer by limiting the lender’s possible loss.
Doctor Program Loans
Home loan programs geared to making financing options for physicians and resident physicians a whole lot easier. Requiring little to no money down.
Fixed Rate Mortgage Loans
Most Popular Loan Type. It is a fully amortize mortgage where the interest rate and monthly payment on the note remains the same through the term of the loan.
Adjustable Rate Mortgage Loans (ARMS)
A loan characterized by a fluctuating interest rate, usually one tied to a bank or savings and loan association cost-of-funds index.
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