A fixed-rate mortgage is a type of home loan where the interest rate remains constant throughout the entire loan term. This means your monthly payments stay the same, offering predictability and stability.

An adjustable-rate mortgage, or ARM, is a loan with an interest rate that can change periodically. Typically, it starts with a fixed rate for an initial period and then adjusts based on market conditions. Borrowers may benefit from lower initial rates but should be aware of potential rate fluctuations.

FHA (Federal Housing Administration) loans are government-backed mortgages designed to assist first-time homebuyers and those with lower credit scores. They often require a lower down payment and have more flexible qualification criteria.

A VA (Veterans Affairs) loan is a mortgage option available to eligible veterans, active-duty service members, and some members of the National Guard and Reserves. VA loans typically offer favorable terms, including no down payment requirement, making them a great option for qualified veterans.

Jumbo loans are mortgages that exceed the conforming loan limits set by government-sponsored entities like Fannie Mae and Freddie Mac. They are often used to finance higher-priced homes. Conventional mortgages, on the other hand, conform to these limits and are suitable for homes within those price ranges.