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 vets exceptional benefits, including low interest rates and no down payment requirement.

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 depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.

Hybrid ARM mortgages (3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM) combine features of both fixed-rate and adjustable rate mortgages and are also known as fixed-period ARMs.

A 2-1 buydown is a type of financing that lowers the interest rate on a mortgage for the first two years before it rises to the regular, permanent rate.

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 specified period of time.

Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home. (Currently not available)

Non-QM Mortgages are aimed at borrowers with financial profiles that don’t meet the requirements of a typical qualified mortgage.