Mortgage Types

A non-conventional loan or mortgage is a form of loan that is not required to adhere to typical mortgage lending regulations. Non-conventional loans may also refer to non-conforming loans, which are loans that do not fulfill bank financing standards.  Read More > 

A fixed-rate mortgage is a mortgage loan in which the interest rate on the note stays constant during the loan's duration, as opposed to loans in which the interest rate may fluctuate or "float."  Read More >

An adjustable-rate mortgage is a  loan where the interest rate on the note is regularly altered based on an index that represents the cost of borrowing for the lender in the credit markets. The loan might be issued at the regular variable rate/base rate of the lender. Read More >

An FHA insured loan is a mortgage loan backed by US Federal Housing Administration mortgage insurance and supplied by an FHA-approved lender.  They are popular because of their 3.5% down payment offering.  Read More >

A USDA mortgage Loan from the USDA loan program is a loan from the U.S. Department of Agriculture, to rural property owners. The objective is to assist people with extremely low to moderate incomes in purchasing safe, inexpensive rural dwellings. Since 1949, the Section 502 lending program has been accessible.  Read More >

A VA loan enables active-duty military members, veterans, and qualifying living spouses to purchase a house without a down payment, mortgage insurance, or stringent credit criteria. Learning how a VA loan works can help you decide whether it's the best mortgage for your buy or refinancing plans.  Read More >

Jumbo loans are mortgages used to fund homes that are too costly for conforming loans. As established by the Federal Housing Finance Agency, the maximum conforming loan amount in most counties is $647,200. (FHFA). For properties that surpass the county conforming loan limit, a jumbo loan is required.  Read More >

A reverse mortgage is a mortgage loan, often secured by a property, that gives the borrower access to the property's equity. Typically, the loans are marketed to senior homeowners and do not demand monthly mortgage payments.
It's reserved for people 62 years old or older that want money to pay off their mortgage, supplement their income, cover medical expenditures, etc. Most suitable for people who do not want to sell their house or incur extra monthly expenses.  Read More >

Refinancing a mortgage involves replacing an existing mortgage with a new one. It is often done to secure a lower interest rate, change the mortgage term, consolidate debt, or access equity in the home. It is important for homeowners to carefully evaluate their financial situation and goals before deciding to refinance. read more >