Before you begin searching for the right home to buy, you’ll need to search for the right kind of mortgage to help make the purchase.
Types of Mortgages
- Conventional loan – Best for borrowers with a good credit score
- Jumbo loan – Best for borrowers with excellent credit looking to buy an expensive home
- Government-insured loan – Best for borrowers who have lower credit scores and not much cash for a down payment
- Fixed-rate mortgage – Best for borrowers who want the predictability of the same payments throughout the entire loan
- Adjustable-rate mortgage – Best for borrowers who do not plan to stay in the home for a long time, and are comfortable with the risk of larger payments down the road