Term: Fixed-Rate Mortgage
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5 Kinds of Mortgages: What’s Right for You?

By Steven Shaw on 7/21/2014

5 Kinds of Mortgages: What's Right for You? 

Home buying can be a whirlwind and, unless you are a lottery winner or heir to a fortune, likely includes taking out a mortgage. Choosing the right mortgage loan for your budget includes assessing your income, lifestyle, credit history and qualifications. But it’s not just a matter of finding an affordable option – it’s also finding the best fit. Here is a list of common borrowing options so you can be an educated homebuyer.

Adjustable-Rate Mortgage
FHA Loan
Fixed-Rate Mortgage
Interest-Only Mortgage
VA Loan