Mortgage Types

A mortgage is a formal contract between you and a lender that lets you borrow money to buy or refinance a property. Prior to entering into this arrangement, it is important to explore the various mortgage choices available to you.

Fixed Rate

Adjustable Rate

FHA Loans

VA Loans

Conventional

Jumbo Loans

USDA Loans

Reverse

Fixed Rate

This type of mortgage has an interest rate that remains the same for the entire term of the loan.

Can You Break a Fixed-Rate Mortgage, and Should You?

What Is a Fixed-Rate 15-Year Mortgage?

What Is a Fixed-Rate 30-Year Mortgage? Understanding 30-Year Rates, Loan Options, and Additional Information

5/1 ARM or 15-Year Fixed: Which Is Superior in 2023?

Guidelines and Rates for Fixed-Rate Mortgages for 2023

Read All Resources about "Fixed Rate Mortgages"

Adjustable-Rate Mortgages

This type of mortgage has an interest rate that can change over time, based on market conditions.

What Is an Adjustable-Rate Mortgage?

5/1 ARM or 15-Year Fixed: Which Is Superior in 2023?

How ARM Mortgage Rates Work: 3/1, 5/1, 7/1, and 10/1

Three Questions to Consider When Contemplating an Adjustable-Rate Mortgage (ARM)

Read All Resources about "Adjustable Rate Mortgages"

FHA Loans

A loan insured by the Federal Housing Administration (FHA) designed for low-to-moderate income borrowers.

Analyzing Comparable Homes Before Making an Offer

FHA Loan Application: Process and Prerequisites

List of All New FHA Loan Restrictions for 2022

FHA Loan Deep Dive: Requirements, Rates, and Benefits

Read All Resources about "FHA Loans"

VA Loans

A loan guaranteed by the Department of Veterans Affairs (VA) for eligible veterans and their spouses.

Applying for a VA Home Loan: Requirements and Procedures

VA Rates and Rules for Jumbo Loans in 2023

What Is the VA Loan Maximum?

The VA Loan Eligibility Reference Guide for Mortgages

Guide to VA Loan Perks and Criteria for 2023

Read All Resources about "VA Loans"

Conventional Mortgages

A loan that is not insured or guaranteed by the government and typically requires a higher credit score and down payment.

How a Piggyback Mortgage Operates: A Guide to Piggyback Loans

Which Is Better, Freddie Mac’s Homepossible and Fannie Mae’s Homeready?

Freddie Mac Home Loan: 2023 Requirements

2023 Guidelines for Fannie Mae HomeReady Mortgages

The Cost and Specifications for Conventional Loans in 2023

Mortgages With a 3% Down Payment for First-Time Homebuyers

Read All Resources about "Conventional Mortgages"

Jumbo Loans

A loan that exceeds the maximum conforming loan limit set by government-sponsored enterprises (GSEs) such as Fannie Mae and Freddie Mac.

2023 Down Payment Requirements for Jumbo Loans

How to Utilize Jumbo Mortgage Financing to Purchase an Expensive Property

Read All Resources about "Jumbo Loans"

USDA Loans

A loan offered by the U.S. Department of Agriculture (USDA) for low-to-moderate income borrowers in rural areas.

Guidelines for USDA Loan Closing Expenses and Down Payment in 2023

USDA Loan Approval Process: 2023 Guide

USDA Loans: Geographic Eligible Areas

USDA Home Loans: USDA Loan Criteria & Rates for 2023

Read All Resources about "USDA Loans"

Reverse

A loan designed for homeowners 62 years of age or older that allows them to convert their home equity into cash.

Reverse Mortgage Guidelines and How You Can Get Started

How to Get Out of a Reverse Mortgage

How to Recognize a Fraudulent Reverse Mortgages

What Is a Reverse Mortgage, and How Do They Work?

Read All Resources about "Reverse Mortgage"

The Mortgage Daily Overview

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Conventional

Fixed Rate

Adjustable

FHA Loans

USDA Loans

VA Loans

Jumbo Loans

Reverse

Rates are always changing, is now the best time for you?

We’ll help you understand your options so you can feel confident in your decision. Mortgage Daily is a trusted resource, used by millions of Americans daily, to help navigage the complicated world of mortgages refinances, and the home buying and selling process. Let’s start here. Where would you like to start?