You're Now Reading:
Types of Mortgage Loans
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Types of Mortgage Loans
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Types of Mortgage Loans
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates
Types of Mortgage Loans 2017-09-25T18:09:55+00:00

Mortgage loans and mortgage rates can vary slightly from state to state and by region. Depending on factors like down payment and credit, your mortgage loan lender may steer you to a certain type of loan that may be easier for you to qualify for. Listed below are the various types of loans that your lender may discuss with you. Having the knowledge going into the loan process may make it easier for you to understand what you mortgage lender is offering you and if it’s the right loan for you.

Fixed Rate Mortgages:

Fixed interest rates are rates which will not fluctuate as time goes by, regardless of how much national interest rates may rise or fall. If your goal is to stay in the home you’ve just purchased for a long period of time, most experts would agree that a fixed rate mortgage would better weather the rise and fall of mortgage interest rates due to fluctuating economic conditions.

Learn more…

Adjustable Rate Mortgages:

Unlike fixed rates, variable rates fluctuate in response to changes in national rates. When national rates increase, a variable rate loan will also increase … but when national rates decrease, the variable rate will do the same. The fluctuation of the loan rate is usually tied to an index, like Treasury bonds, and goes up or down based upon the performance of that index.

Learn more…

Balloon Loans:

A balloon loan is a mortgage with a fixed interest rate for a set period of years. Unlike traditional fixed rate home loans, the interest rates on balloon loans are nearly as low as those found on adjustable rate mortgages. The problem with balloon loans, however, is the term. At the end of the term, you must repay the balloon loan in full. Yes, in full!

Learn more…

Government-backed Loans:

Mortgage loans that are insured by the U.S. government can help pave the way to home ownership for many home buyers. One of the primary advantages of such a loan is that it allows you to buy a home with a low down payment. Examples of these would be FHA (Federal Housing Authority) and VA (Veterans Administration) loans.

Learn more…

Interest-only Loans:

The interest-only home loan was widely used during the housing boom of the early to mid 1990s. They were primarily used to lure in home buyers who could not otherwise afford their monthly payments. But this type of loan has some major drawbacks, as well. As the name implies, interest only home loans are loans that include an option of only paying the interest every month.

Learn More…

Home Equity Loans and HELOCs:

The equity you have in your home is an asset. You can “tap” into it to pay for other things, like a remodeling project or your child’s college tuition. But you need to learn some of the basic concepts before you make such a decision. Home equity loans and HELOC’s (Home Equity Lines Of Credit) can only be utilized if your homes value is greater than the amount that you owe.

Learn more…

Related Articles:

Learn about mortgage loans

Get pre-approved for a mortgage loan

Home purchase loans

Learn about VA loans

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates
Types of Mortgage Loans 2017-09-25T18:09:55+00:00

Mortgage loans and mortgage rates can vary slightly from state to state and by region. Depending on factors like down payment and credit, your mortgage loan lender may steer you to a certain type of loan that may be easier for you to qualify for. Listed below are the various types of loans that your lender may discuss with you. Having the knowledge going into the loan process may make it easier for you to understand what you mortgage lender is offering you and if it’s the right loan for you.

Fixed Rate Mortgages:

Fixed interest rates are rates which will not fluctuate as time goes by, regardless of how much national interest rates may rise or fall. If your goal is to stay in the home you’ve just purchased for a long period of time, most experts would agree that a fixed rate mortgage would better weather the rise and fall of mortgage interest rates due to fluctuating economic conditions.

Learn more…

Adjustable Rate Mortgages:

Unlike fixed rates, variable rates fluctuate in response to changes in national rates. When national rates increase, a variable rate loan will also increase … but when national rates decrease, the variable rate will do the same. The fluctuation of the loan rate is usually tied to an index, like Treasury bonds, and goes up or down based upon the performance of that index.

Learn more…

Balloon Loans:

A balloon loan is a mortgage with a fixed interest rate for a set period of years. Unlike traditional fixed rate home loans, the interest rates on balloon loans are nearly as low as those found on adjustable rate mortgages. The problem with balloon loans, however, is the term. At the end of the term, you must repay the balloon loan in full. Yes, in full!

Learn more…

Government-backed Loans:

Mortgage loans that are insured by the U.S. government can help pave the way to home ownership for many home buyers. One of the primary advantages of such a loan is that it allows you to buy a home with a low down payment. Examples of these would be FHA (Federal Housing Authority) and VA (Veterans Administration) loans.

Learn more…

Interest-only Loans:

The interest-only home loan was widely used during the housing boom of the early to mid 1990s. They were primarily used to lure in home buyers who could not otherwise afford their monthly payments. But this type of loan has some major drawbacks, as well. As the name implies, interest only home loans are loans that include an option of only paying the interest every month.

Learn More…

Home Equity Loans and HELOCs:

The equity you have in your home is an asset. You can “tap” into it to pay for other things, like a remodeling project or your child’s college tuition. But you need to learn some of the basic concepts before you make such a decision. Home equity loans and HELOC’s (Home Equity Lines Of Credit) can only be utilized if your homes value is greater than the amount that you owe.

Learn more…

Related Articles:

Learn about mortgage loans

Get pre-approved for a mortgage loan

Home purchase loans

Learn about VA loans

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Types of Mortgage Loans 2017-09-25T18:09:55+00:00

Mortgage loans and mortgage rates can vary slightly from state to state and by region. Depending on factors like down payment and credit, your mortgage loan lender may steer you to a certain type of loan that may be easier for you to qualify for. Listed below are the various types of loans that your lender may discuss with you. Having the knowledge going into the loan process may make it easier for you to understand what you mortgage lender is offering you and if it’s the right loan for you.

Fixed Rate Mortgages:

Fixed interest rates are rates which will not fluctuate as time goes by, regardless of how much national interest rates may rise or fall. If your goal is to stay in the home you’ve just purchased for a long period of time, most experts would agree that a fixed rate mortgage would better weather the rise and fall of mortgage interest rates due to fluctuating economic conditions.

Learn more…

Adjustable Rate Mortgages:

Unlike fixed rates, variable rates fluctuate in response to changes in national rates. When national rates increase, a variable rate loan will also increase … but when national rates decrease, the variable rate will do the same. The fluctuation of the loan rate is usually tied to an index, like Treasury bonds, and goes up or down based upon the performance of that index.

Learn more…

Balloon Loans:

A balloon loan is a mortgage with a fixed interest rate for a set period of years. Unlike traditional fixed rate home loans, the interest rates on balloon loans are nearly as low as those found on adjustable rate mortgages. The problem with balloon loans, however, is the term. At the end of the term, you must repay the balloon loan in full. Yes, in full!

Learn more…

Government-backed Loans:

Mortgage loans that are insured by the U.S. government can help pave the way to home ownership for many home buyers. One of the primary advantages of such a loan is that it allows you to buy a home with a low down payment. Examples of these would be FHA (Federal Housing Authority) and VA (Veterans Administration) loans.

Learn more…

Interest-only Loans:

The interest-only home loan was widely used during the housing boom of the early to mid 1990s. They were primarily used to lure in home buyers who could not otherwise afford their monthly payments. But this type of loan has some major drawbacks, as well. As the name implies, interest only home loans are loans that include an option of only paying the interest every month.

Learn More…

Home Equity Loans and HELOCs:

The equity you have in your home is an asset. You can “tap” into it to pay for other things, like a remodeling project or your child’s college tuition. But you need to learn some of the basic concepts before you make such a decision. Home equity loans and HELOC’s (Home Equity Lines Of Credit) can only be utilized if your homes value is greater than the amount that you owe.

Learn more…

Related Articles:

Learn about mortgage loans

Get pre-approved for a mortgage loan

Home purchase loans

Learn about VA loans

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.