Fixed-Rate Mortgage: This type of mortgage has a fixed interest rate for the entire term of the loan, usually 15, 20, or 30 years.

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Adjustable-Rate Mortgage (ARM): An ARM has an interest rate that is initially fixed for a certain period, typically 5, 7, or 10 years, after which it adjusts annually based on market conditions.

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FHA Loan: An FHA loan is a government-backed mortgage that is insured by the Federal Housing Administration. It allows borrowers to make a down payment as low as 3.5% of the purchase price.

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VA Loan: A VA loan is a mortgage guaranteed by the Department of Veterans Affairs.

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USDA Loan: A USDA loan is a mortgage guaranteed by the United States Department of Agriculture.

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Jumbo Loan: A jumbo loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac, typically used for luxury homes.

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Bridge Loan: A bridge loan is a short-term loan used to bridge the gap between the sale of a current property and the purchase of a new one.

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