![]() ![]() Fixed-rate mortgages allow you to lock in your interest rate, protecting you from rate changes, and ensuring your principal and interest rate payment remain the same throughout*. Some examples of conventional loans include:Ī fixed-rate mortgage is a great option for a borrower that wants a consistent rate across the entire duration of the loan. The biggest benefit to a conventional loan is the wider variety of loan programs and flexibility in terms and rates. In this article, we’ll go over the different types of mortgage loans, interest rates, mortgage terms, and which loan can bring the most benefits to you and your needs!Ĭonventional loans remain the most common type of loan across most lenders and, broken down, is a loan that is not government backed. We understand that researching loan programs can be overwhelming and difficult to understand, so let’s make it simple. The homebuying experience is unique to every individual buyer, so why should your loan be any different? When it comes to finding the perfect loan to suit your every need, we’ve got you covered. Different Types of Mortgage Loans – A Comparative Guide ![]()
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