The traditional 30-year fixed-rate mortgage features a constant interest rate and monthly payments that never change, making it a reliable choice if …

This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of a 30-year loan, plus a …

A reverse mortgage is a loan designed for seniors aged 62 and older. Home Equity Conversion Mortgage (HECM) reverse mortgage loans are insured by …

A jumbo loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2022, the limit is $647,200 for most of …

An FHA loan is a mortgage loan insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for …

A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). This type of loan may be issued by …

The United States Department of Agriculture (USDA) offers a variety of loans to assist low- to moderate-income individuals in buying, repairing, or …

The Home Affordable Refinance Program (HARP) is a federal initiative established by the Federal Housing Finance Agency in March 2009. It was …

An ARM is an adjustable-rate Rate Mortgage. Unlike fixed-rate mortgages, that have an interest rate that remains the same for the life of the loan, …

An FHA 203K loan is a government-backed mortgage designed for buyers who want to purchase a damaged or older home and make repairs. Here's how it …