Types of home loans & mortgage options

Discover the different loan options available and​ find the mortgage that makes the most sense for your​ financial situation. You can also start the process ​now by applying for a mortgage pre-approval.

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Which types of loans are available?

Learn more about popular home loan types and find the right mortgage to help you afford your dream home.

Couple moving in

15-year mortgage

A 15-year mortgage builds equity faster & has lower rates, but higher payments.

Possible interest savingsAffordable rates
Hero image of 30-year rates

30-year mortgage

A 30-year mortgage offers fixed monthly payments over 30 years.

First-time homeowner
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Adjustable-rate mortgage

An ARM features variable rates that start lower than fixed rates & adjust periodically.

Possible interest savings
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Closed-end

A closed-end second mortgage is a lump-sum loan repaid in fixed payments.

Refinance
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FHA mortgage

An FHA mortgage offers lower down payments and flexible credit requirements.

First-time homeownerGovernment loanAffordable rates
Family at kitchen island table

HELOC

A HELOC lets homeowners borrow against their equity with flexible repayment & rates.

Use home equitySpecialty loan
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HELoan

A HELoan offers a fixed rate and steady monthly payments, making it a reliable way to fund renovations, consolidate debt or cover large expenses.

Use home equitySpecialty loan
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Home Renovation

Home renovation loans allow you to roll the cost of upgrades into a single mortgage.

Use home equityAffordable ratesGovernment loan
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Jumbo loan

A jumbo home loan exceeds conventional limits, and is ideal for high-value properties. 

Large amount
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Non-QM

Non-QM home loans serve borrowers outside traditional criteria such as self-employed.

Specialty loan
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Refinance

Refinancing to a lower mortgage rate could save you thousands over the life of your loan.

Use home equityPossible interest savingsGovernment loan
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Reverse mortgage

Reverse mortgages convert home equity into retirement funds for homeowners 62 & older.

Specialty loan
USDA Hero image

USDA loan

USDA Home Loans offer no down payment options & flexible credit rules to rural buyers.

Government loanAffordable rates
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VA mortgage

VA home loans offer affordable rates and no down payment options for service members.

Government loanAffordable rates

How can Rate help me get a mortgage?

The team at Rate leverages several unique mortgage programs and technologies to help you get into your dream home. Learn more about available options and apply for pre-approval today!

Rates have fallen. Move now.

Whether you’re buying a home or refinancing, there’s never been a better time to lock in a lower rate.