Explore Your Options, Take Our Mortgage Quiz!
Any successful homeowner starts out as a well-educated homebuyer. That’s why we created this Mortgage Education page, with numerous ways to explore your financing options including our Mortgage Finder quiz, calculators, useful articles and guides, and more!
Skip to guideGuide to Common Loan Types
VA Loans
Veterans Affairs or VA loans are government-backed loans offered as an exclusive benefit of military service. It is only made available to veterans, active duty, and surviving spouses.
FHA Loans
FHA loans are a type of government-backed loan, backed by the Federal Housing Administration. The FHA provides insurance on loans provided by FHA-approved lenders.
Adjustable Rate Mortgages (ARM)
Adjustable rate mortgages start with an initial fixed rate. This initial rate lasts for a set period of years. ARMs typically offer a lower initial rate when compared to conventional loans, but do come with some unpredictability when the rate adjusts.
15-Year Fixed Rate Mortgages
Conventional loans, or fixed rate mortgages, offer an easy-to-understand way to finance any home. Your rate and payments stay the same for the life of the loan. A 15-year conventional loan means that payments are structured so that the loan will be paid off in that time frame.
30-Year Fixed Rate Mortgages
A 30-year conventional loan offers lower payments than you would have for a 15-year loan of the same amount. However, this means it takes longer to pay off principal and thus build equity in your home.
Still not sure which type of mortgage is right for you? Contact our Mortgage Loan Officer to discuss.
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Additional Resources
Don’t forget about these helpful resources, which you can use to help you make decisions about your homeownership journey.
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