There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we're here to help you choose the best type of home loan for your needs.
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The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan's lifetime.
Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions. Typically, these loans carry a fixed-i...
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and...
A conventional loan is a type of loan that is not insured by the government. Conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no ...
For real estate investors who want to buy rental properties without showing personal income. The property's rental income is what qualifies you — no W-2s or tax returns needed.
For self-employed borrowers and 1099 workers who have strong income but can't qualify using tax returns. Lenders use 12-24 months of bank statements instead of tax returns to verify your income.
For homeowners 62 and older who want to access their home equity without selling or making monthly mortgage payments. The lender pays you — not the other way around.
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $766,550 in...
For homeowners who need access to cash for home improvements, debt consolidation, education, or other major expenses. Borrow against the equity in your home at lower rates than credit cards or personal loans.
For first-time homebuyers who need help covering the upfront costs of purchasing a home. Wisconsin offers grants, forgivable loans, and other programs that can provide thousands of dollars in assistance.
