Here are some of the most common types of home loans. Each type of loan has different rules and benefits, so it is important to choose the one that is best for your situation. It is always recommended to speak to one of our Licensed Loan Officers to help guide you and answer all of your questions concerning which would be the best for you.

Fixed-rate mortgage: This is when you borrow money to buy a house and pay back the same amount each month for a certain number of years. The interest rate stays the same, so your payments don't change.

Adjustable-rate mortgage (ARM): This type of loan has an interest rate that can change over time. It might start low, but it can go up or down after a certain period, which could change your monthly payments.

FHA loan: This is a loan insured by the Federal Housing Administration. It's designed to help people with lower credit scores or smaller down payments buy a home.

VA loan: This is a loan guaranteed by the Department of Veterans Affairs. It helps veterans, active-duty service members, and some military spouses buy homes with little or no down payment.

USDA loan: This is a loan backed by the U.S. Department of Agriculture. It is for buying homes in rural areas, and it often requires no down payment.