Homes for Sale - Mortgage Center - Types of Mortgages  
Finance & Mortgage link directory

Types of Home Mortgage Loans

Now that you have a general idea of what a home mortgage is, the next thing that you need to know about are the different types of home mortgages; there is more to buying a home then just buying from the bank or the seller. There are home mortgages that are offered to buyers from banks/lenders and mortgage companies, these are called Conventional Home Mortgages, then there are the types that are offered through private organizations, they are guaranteed, and insured and targeted at specific groups of people for home ownership, these are called Government Home Mortgages. Now that you know the different types you have to find one that you can qualify for.

First you need to understand how to qualify for a home mortgage, the major basis of qualifying for a home mortgage is understanding what your credit score is, as each company that offers home mortgages bases their minimum qualifying terms differently based on what your credit score is. The better your credit score the better chance you have of qualifying for the home mortgage you want, if your credit score is low then qualifying for a home mortgage will be more difficult and you could be subject to higher interest rates. When looking at the different home mortgages, make sure to ask what the rates and restrictions are; these are important need to know details, that way you know what the financial organization expects from you before starting the whole loan process. This like anything else in life, you need to consider which lender you will ultimately use, just because you qualify with one lender, donít let that make you think that you have to sign with them, there are hundreds of other lenders out there that you can possible qualify with. Often buyers think that they have found the best deal and sign to quickly, only to find out later that the lender down the road had a much better deal with lower rates and less restrictions.

Before signing that home mortgage, you want to make sure that the amount you are borrowing is one that you can actually afford. Nothing puts you in the poor house faster then over stretching your budget trying to make those expensive house payments. You want to make sure that final amount of the home mortgage you will be paying is not so much that you feel like your house owns you, if the final amount with taxes, closing costs, insurance, etc is too high for your budget, look somewhere else, as stated before there are plenty of companies out there offering home mortgage loans, you will find one that fits into your budget. Donít forget to factor in your other monthly bills and expenses when trying to figure out how much of a home mortgage you can afford, a good rule of thumb to remember is, donít let your housing expenses go over 30% of your monthly income; if you stick to this principal, you will be in good financial shape.

Conventional Home Mortgage Loans

Adjustable Rate Home Mortgage Loans
Adjustable Rate Hybrid Home Mortgage Loans
Balloon Home Mortgage Payment
Bridge Home Mortgage Loan
Fixed Rate Home Mortgage Loans

Government Home Mortgage Loan Programs

FHA Home Mortgage Loans
VA Home Mortgage Loans

Home Mortgage Loans
Applying for a Home Mortgage Loan


Alabama Homes
Alaska Homes
Arizona Homes
Arkansas Homes
California Homes
Colorado Homes
Connecticut Homes
Delaware Homes
Florida Homes
Georgia Homes
Hawaii Homes
Idaho Homes
Illinois Homes
Indiana Homes
Iowa Homes
Kansas Homes
Kentucky Homes
Louisiana Homes
Maine Homes
Maryland Homes
Massachusetts Homes
Michigan Homes
Minnesota Homes
Mississippi Homes
Missouri Homes
Montana Homes
Nebraska Homes
Nevada Homes
New Hampshire Homes
New Jersey Homes
New Mexico Homes
New York Homes
North Carolina Homes
North Dakota Homes
Ohio Homes
Oklahoma Homes
Oregon Homes
Pennsylvania Homes
Rhode Island Homes
South Carolina
South Dakota Homes
Tennessee Homes
Texas Homes
Utah Homes
Vermont Homes
Virginia Homes
Washington Homes
West Virginia Homes
Wisconsin Homes
Wyoming Homes
2006-2010 © Homes For Sale By Owner