Conventional Loans- These are the most common types of first mortgages for consumers with a 5%-20% down payment and good credit. These loans are underwritten through common guidelines set forth by Fannie Mae (or the Federal National Mortgage Association) and Freddie Mac (the Federal Home Loan Mortgage Corporation.)

VA (Department of Veterans Affairs) Loans- VA Loans we are able to provide 100% financing for veterans.

Fixed Rate Mortgages- The interest rates on these mortgage are fixed for the life of the loan. The 30 year fixed is most common with the 15 year fixed popular with refinances.

Adjustable Rate Mortgages (ARMs)- The interest rate on these mortgages adjusts every so often, using a common benchmark rate as means of calculating the change. They usually carry yearly and lifetime caps for rate increases and decreases.

Hybrid Loans- These loans carry a fixed rate for a period of time, then adjust. Some common types are the 7/23, which gives you a fixed rate for 7 years and then adjusts according to market changes, and the 10/1 which is fixed for 10 years than changes to a one year adjustable.

Construction Loans- These loans are meant to finance the actual construction of a home. Many of these are then paid off or converted into permanent financing. They have higher rates than permanent financing.

80-10-10 Loans- These loans are used to avoid Private Mortgage Insurance (PMI). You carry an 80% first mortgage and a 10% second mortgage with 10% equity.

Home Equity Loans- Fixed rates or lines of credit available up to $500,000. Funds can be used for debt consolidation, home improvement, vacations etc.

"A minus" Credit Loans- A very broad term to describe anyone who has anything less than perfect credit, from a few late payments to bankruptcies and foreclosures.