How to Make the Right Selection Among the Types of Mortgage Loans

Whether you need a mortgage loan as a first-time home buyer or move-up buyer, to retire, refinance an existing mortgage or pull out equity, it helps to get a basic understanding of the various types of mortgage loans available to you.

Choosing the right mortgage loan is as important as choosing the best lender. Because a good lender will explain options that fit your particular criteria; there is no one-size-fits all anymore. By doing a little bit of homework, you can arrive at your loan officer's desk with knowledge that will help you make that choice -- not to mention, you won't feel like your loan officer is speaking a foreign language when using terms such as adjustable-rate mortgages, index and margins, amortization or interest-only payments . . . read more about types of mortgage loans.

More Articles by Elizabeth Weintraub:

• Qualifying Your Mortgage Broker
  
• Falling Market Mortgages
  
• Computing Simple Interest

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_{At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.}