Fixed-rate Real Estate Mortgage - Fixed rate mortgages are mortgages where the interest rate stays the same for the entire term of the loan. The advantage to a fixed rate mortgage is that if you lock a relatively low rate, your payment won’t go up when rates do.

Variable or Adjustable-Rate Real Estate Mortgage - With an adjustable rate mortgage, the rate of the loan can change throughout the term of the loan. Many ARMs have a short fixed period and then become truly adjustable. The rate of the loan is based on adding points to a fixed base.

Hybrid loans - A hybrid loan combines a fixed period along with an adjustable component. Usually these loans are fixed for a period of time and then the loan becomes adjustable where it is dependant on current rates.

Balloon Real Estate Loan - A balloon loan is a real estate loan where there is a lump sum due at the end of the loan. This normally encourages an individual to refinance prior to the end of the term of the loan.

Jumbo Real Estate Loans - A jumbo loan is any residential or commercial loan exceeding the guidelines of Fannie Mae and Freddie Mac.

FHA Real Estate Loans - An FHA loan is a loan in the United States that is insured by the Federal Housing Administration.

VA Real Estate Loans - A VA loan is a loan in the United States guaranteed by the Veterans Administration. The loan may be issued by qualified lenders. The VA was designed to offer long-term financing to American Veterans or to their surviving spouses.

Purchase-Money Mortgage - A home-financing technique in which buyer borrows from the seller instead of, or in addition to, a bank. Sometimes done when a buyer cannot qualify for a bank loan for the full amount. Also called seller financing or owner financing.