Types of Mortgages - Home Buying process provided by Helene Cass and Team specializing in McDowell Mountain Ranch
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Financing Your Purchase > Types of Mortgages

Mortgage Types


Virtually everyone entering into a contract to buy a home has a unique set of needs and goals when it comes to financing their purchase.

The good news is that despite the recent upheavals in the financial marketplace, there are still an extraordinary number of options available. In fact, the menu on the left side of this page reflects just some of the most common choices.

When you click on any of these selections, you’ll find a short explanation of the mortgage itself and a hypothetical example of what the monthly payment might be on a home purchased with this program.

For simplicity’s sake, we’ve used a home with a $400,000 sales price and interest rates which, although they almost assuredly do not reflect the current market, demonstrate the relative differences between the various programs and how they might impact your monthly costs.

If the value of the home you are considering is different and if you are already familiar with current rates, you may want to use our very sophisticated mortgage calculators to do your own analysis.

The monthly payments shown in these examples include just the principal and interest portion of the total monthly obligation. Taxes, insurance and any applicable condo/homeowner fees would be additional.

Moreover, points, fees and interest rates associated with any financing program do vary and you should check with a lender for specific information on the type of loan you are considering. If you haven’t already selected a lender, please check out our our preferred lenders page.


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