Mortgages are special loans that you take from a bank to buy a house.  Below are some of the different kinds of mortgages.

Fixed Rate loans provide stability and peace of mind of a constant payment amount each and every month - for the life of your loan.  This can be the ideal option for those planning to stay in a home for more than five years

Zero down home loans are ideal for those who don't have the ready cash for a down payment, or prefer to invest those funds some other way.  A Zero Down home loan combines a conventional mortgage with a Home Equity Line of Credit into one low monthly payment.  By financing the down payment, you actually increase your mortgage tax deduction.

 An Adjustable Rate Mortgage (ARM) offers the lowest rates in the early years, allowing you to qualify for a larger mortgage or to keep initial payments low.  Rates are adjusted only at specified intervals, so an ARM can be ideal for anyone planning to move or refinance within the initial fixed loan period.

And, Interest Only loans keep your payments low by eliminating principal payments in the early life of the loan.  This is a great way to free up cash for home improvements or any other type of investment.  The lower payments will help you qualify for up to 25% more home.  Like the ARM, the Interest Only loan can be ideal for anyone planning to move or refinance within the Interest Only period.

Refinance up to 125% of Your Home's Value to Take Needed Cash from Your Property