{"id":944,"date":"2022-02-23T16:00:50","date_gmt":"2022-02-23T21:00:50","guid":{"rendered":"https:\/\/www.realtyhop.com\/mortgage-center\/?p=944"},"modified":"2023-07-22T13:37:28","modified_gmt":"2023-07-22T17:37:28","slug":"mortgage-types-explained","status":"publish","type":"post","link":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/","title":{"rendered":"Mortgage Types Explained"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">With so many different mortgage loans available, how do you know which one is good for you? This post will go over the most common residential mortgage loans to help you get one step closer to owning your dream home.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">To start, most mortgages you\u2019ll likely encounter as a homebuyer fall into these two categories \u2013 \u201cconventional mortgages\u201d and \u201cgovernment-backed mortgages.\u201d<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Conventional Mortgages<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\"><a href=\"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/\">Conventional mortgages<\/a> are mortgages that are not secured by a government entity. Instead, they are funded by private lenders and then sold to government-sponsored enterprises (GSEs) \u2013 Fannie Mae and Freddie Mac. Most conventional mortgages are \u201cconforming,\u201d as they conform to the guidelines set by the Federal Housing Finance Administration (FHFA). Such guidelines include:<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">The loan limits.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\"><a href=\"https:\/\/www.realtyhop.com\/mortgage-center\/debt-to-income-dti-for-a-mortgage\/\">Debt-to-income ratio<\/a> (DTI).<\/span><\/li>\n<li><span data-preserver-spaces=\"true\"><a href=\"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-loan-to-value-ratio\/\">Loan-to-value ratio<\/a> (LTV).<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Credit score and history.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Other documentation requirements.<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">Jumbo loans, however, are \u201cnon-conforming.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Let\u2019s now look at each type of conventional mortgage.<\/span><\/p>\n<h3><strong>Fixed-Rate Mortgages<\/strong><\/h3>\n<p><span data-preserver-spaces=\"true\">Fixed-rate mortgages are the most common type of conventional loans. Like the name suggests, a fixed-rate mortgage has a fixed rate throughout the life of the loan. This means your monthly payment remains the same even though the amount of principal and interest paid varies each month because of amortization.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The most common terms for fixed-rate mortgages are 15 years and 30 years. The shorter the term, the lower the rate, as it costs banks less to make shorter-term loans. However, while a 15-year fixed-rate mortgage typically comes with a lower interest rate, the monthly payments are significantly higher, as the burden is stretched out over only 15 years. But since you\u2019re only paying half as long as a 30-year fixed-rate mortgage, you save more on interest in the long run with a 15-year mortgage.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The 30-year fixed mortgage, among others, is the most popular option among homeowners. With a 30-year fixed, borrowers have 30 years to fully pay back the bank, so the monthly payments are lower. That said, a lot of the money will go toward interest, therefore making it more expensive in the long run.<\/span><\/p>\n<h3><strong>Adjustable-Rate Mortgages (ARMs)<\/strong><\/h3>\n<p><span data-preserver-spaces=\"true\">Adjustable-rate mortgages are great for homeowners who don\u2019t plan to have the loan for an extended period of time. For instance, if you expect to get a windfall in a few years and pay off the loan on your home, a 5\/1 ARM or 7\/1 ARM could be perfect for you.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">So, what is an adjustable-rate mortgage? An ARM is a home loan with a low introductory fixed mortgage rate, or \u201cteaser rate,\u201d for a set period, followed by periodical rate adjustments. The most common ARM terms are 3\/1, 5\/1, 7\/1, and 10\/1. The first number indicates the length of the period for the initial teaser rate, and the second number specifies the adjustment period. For a 3\/1 ARM, that means the initial fixed-rate will last for three years, and after that, your lender will adjust your rate once a year.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Of course, lenders don\u2019t just adjust your rate arbitrarily. Instead, the rate adjustments are an index rate plus the margin the lender charges to factor in lending risk. The most widely adopted benchmark indices are the one-year constant maturity Treasury, the Cost of Funds Index, and the prime rate. If you\u2019re considering taking on an ARM, make sure you understand which index your lender uses so you can monitor the rate movements accordingly.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While ARMs allow you to get a lower interest rate during the introductory period and, therefore, lower payments, ARMs could be risky, especially if the rates are on the rise. When interest rates go up, your monthly payments go up, and you might end up defaulting and losing your home.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In today\u2019s rising interest rate environment, be sure to understand how your rate could change before taking out an ARM.<\/span><\/p>\n<h3><strong>Jumbo Mortgages<\/strong><\/h3>\n<p><span data-preserver-spaces=\"true\">A jumbo loan is a type of loan that exceeds the conforming loan guidelines. The limits differ by county and are adjusted annually, usually released in November for the upcoming year. The limits for 2022 by area can be found\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.fhfa.gov\/Media\/PublicAffairs\/Pages\/FHFA-Announces-Conforming-Loan-Limits-for-2022.aspx\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">here<\/span><\/a><span data-preserver-spaces=\"true\">. Because the jumbo loans exceed the conforming loan limit, they are \u201cnon-conforming,\u201d meaning these mortgages cannot be resold to agencies such as Fannie Mae and Freddie Mac.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">You will likely need a jumbo loan if you want to purchase an expensive home or look to refinance with a substantial amount. Jumbo loans could be fixed-rate or adjustable-rate depending on what lenders in your area offer. The interest rate could also potentially be lower than conforming conventional loans. However, keep in mind that jumbo loans come with stricter underwriting criteria. Lenders often require a credit score of 700 or higher for jumbo loan borrowers. You will also need a lower debt-to-income ratio in order to qualify.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-945 alignnone\" src=\"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/home-with-front-porch.jpg\" alt=\"\" width=\"702\" height=\"468\" srcset=\"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/home-with-front-porch.jpg 1200w, https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/home-with-front-porch-300x200.jpg 300w, https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/home-with-front-porch-1024x683.jpg 1024w, https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/home-with-front-porch-768x512.jpg 768w, https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/home-with-front-porch-150x100.jpg 150w, https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/home-with-front-porch-600x400.jpg 600w, https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/home-with-front-porch-696x464.jpg 696w, https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/home-with-front-porch-1068x712.jpg 1068w, https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/home-with-front-porch-630x420.jpg 630w\" sizes=\"auto, (max-width: 702px) 100vw, 702px\" \/><\/p>\n<h2><span data-preserver-spaces=\"true\">Government-Backed Mortgages<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Government-backed mortgages, by definition, are home loans secured by the government. Since these mortgages are backed by the government, they come with lower lending criteria, further assisting those with poor credit scores or limited income to purchase homes. Let\u2019s take a look at the most common government-backed mortgages: FHA loans, USDA loans, and VA loans.<\/span><\/p>\n<h3><strong>FHA Loans<\/strong><\/h3>\n<p><span data-preserver-spaces=\"true\">FHA loans are mortgages backed by the Federal Housing Administration (FHA). When a mortgage is backed by the FHA, it means that the FHA guarantees and protects lenders from potential financial losses on riskier mortgages. Because of this, FHA loans can offer a minimum down payment of 3.5% and reduce the credit requirement to as low as 500 to start.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Various FHA loans are available, and they all have slightly different details. Check out\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.realtyhop.com\/mortgage-center\/fha-loans\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">which FHA loan might fit your needs best<\/span><\/a><span data-preserver-spaces=\"true\">. Keep in mind that FHA loans do come with limits. The limits for 2022 range from $420,680 to $970,800. Depending on the area you live in, the loan you want to take out cannot exceed the area\u2019s maximum loan limit. The ceiling differs by county. You can research the limits based on the area\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/entp.hud.gov\/idapp\/html\/hicostlook.cfm\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">using the tool here<\/span><\/a><span data-preserver-spaces=\"true\">.\u00a0\u00a0<\/span><\/p>\n<h3><strong>USDA Loans<\/strong><\/h3>\n<p><span data-preserver-spaces=\"true\">USDA loans are mortgages backed by the United States Department of Agriculture. These loan programs are designed to provide families and individuals in rural America the opportunity to buy and build homes.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Similar to the FHA loans, USDA loans offer favorable terms, including no down payment requirement on most properties for income-qualified homebuyers. However, borrowers must be U.S. citizens or permanent residents, and the property must be their primary residence.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Learn more about\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-usda-loan\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">USDA loan requirements and available programs<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<h3><strong>VA Loans<\/strong><\/h3>\n<p><span data-preserver-spaces=\"true\">VA loans are mortgages secured by the Department of Veteran Affairs and are designed to help service members, veterans, and eligible surviving spouses with their homebuying endeavors. Like other mortgage options backed by government entities, VA loans come with favorable terms, including no down payment requirement, lower interest rates compared to conventional loans, and limited <a href=\"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-closing-costs-explained\/\">closing costs<\/a>.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">You might wonder if <a href=\"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-pmi-or-private-mortgage-insurance\/\">private mortgage insurance (PMI)<\/a> would be required for VA loans since there\u2019s no down payment. Good news \u2013 VA loans do not require PMI, which means if you qualify, you can save up to hundreds of dollars per month compared to going with a conventional lender.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Which one is right for me?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Of course, you must meet specific criteria to apply for government-backed mortgages. If you are shopping around for conventional loans and are unsure about fixed-rate or adjustable-rate mortgages, make sure you speak to potential lenders and fully understand your monthly obligations. You can also utilize a <a href=\"https:\/\/www.realtyhop.com\/mortgage-center\/payment-calculator\/\">payment calculator<\/a> to understand better how your payment changes throughout the term.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With so many different mortgage loans available, how do you know which one is good for you? This post will go over the most common residential mortgage loans to help you get one step closer to owning your dream home. To start, most mortgages you\u2019ll likely encounter as a homebuyer fall into these two categories [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":949,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27,2],"tags":[41],"class_list":["post-944","post","type-post","status-publish","format-standard","has-post-thumbnail","category-featured","category-mortgage-basics","tag-loan-types"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgage Types Explained - RealtyHop Mortgage Center<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Types Explained - RealtyHop Mortgage Center\" \/>\n<meta property=\"og:description\" content=\"With so many different mortgage loans available, how do you know which one is good for you? This post will go over the most common residential mortgage loans to help you get one step closer to owning your dream home. To start, most mortgages you\u2019ll likely encounter as a homebuyer fall into these two categories [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/\" \/>\n<meta property=\"og:site_name\" content=\"RealtyHop Mortgage Center\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-23T21:00:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-22T17:37:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/suburban-homes-with-driveway.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"794\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shane Lee\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shane Lee\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/\"},\"author\":{\"name\":\"Shane Lee\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/#\\\/schema\\\/person\\\/8cce324bd04987aa7dbe03a4a2a3eeee\"},\"headline\":\"Mortgage Types Explained\",\"datePublished\":\"2022-02-23T21:00:50+00:00\",\"dateModified\":\"2023-07-22T17:37:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/\"},\"wordCount\":1228,\"image\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2022\\\/02\\\/suburban-homes-with-driveway.jpg\",\"keywords\":[\"Loan Types\"],\"articleSection\":[\"Featured\",\"Mortgage Basics\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/\",\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/\",\"name\":\"Mortgage Types Explained - RealtyHop Mortgage Center\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2022\\\/02\\\/suburban-homes-with-driveway.jpg\",\"datePublished\":\"2022-02-23T21:00:50+00:00\",\"dateModified\":\"2023-07-22T17:37:28+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/#\\\/schema\\\/person\\\/8cce324bd04987aa7dbe03a4a2a3eeee\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2022\\\/02\\\/suburban-homes-with-driveway.jpg\",\"contentUrl\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2022\\\/02\\\/suburban-homes-with-driveway.jpg\",\"width\":1200,\"height\":794},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/mortgage-types-explained\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage Types Explained\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/#website\",\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/\",\"name\":\"RealtyHop Mortgage Center\",\"description\":\"RealtyHop Mortgage Center\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/#\\\/schema\\\/person\\\/8cce324bd04987aa7dbe03a4a2a3eeee\",\"name\":\"Shane Lee\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g\",\"caption\":\"Shane Lee\"},\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/author\\\/alsoshane\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Mortgage Types Explained - RealtyHop Mortgage Center","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/","og_locale":"en_US","og_type":"article","og_title":"Mortgage Types Explained - RealtyHop Mortgage Center","og_description":"With so many different mortgage loans available, how do you know which one is good for you? This post will go over the most common residential mortgage loans to help you get one step closer to owning your dream home. To start, most mortgages you\u2019ll likely encounter as a homebuyer fall into these two categories [&hellip;]","og_url":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/","og_site_name":"RealtyHop Mortgage Center","article_published_time":"2022-02-23T21:00:50+00:00","article_modified_time":"2023-07-22T17:37:28+00:00","og_image":[{"width":1200,"height":794,"url":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/suburban-homes-with-driveway.jpg","type":"image\/jpeg"}],"author":"Shane Lee","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Shane Lee","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/#article","isPartOf":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/"},"author":{"name":"Shane Lee","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/#\/schema\/person\/8cce324bd04987aa7dbe03a4a2a3eeee"},"headline":"Mortgage Types Explained","datePublished":"2022-02-23T21:00:50+00:00","dateModified":"2023-07-22T17:37:28+00:00","mainEntityOfPage":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/"},"wordCount":1228,"image":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/#primaryimage"},"thumbnailUrl":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/suburban-homes-with-driveway.jpg","keywords":["Loan Types"],"articleSection":["Featured","Mortgage Basics"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/","url":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/","name":"Mortgage Types Explained - RealtyHop Mortgage Center","isPartOf":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/#primaryimage"},"image":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/#primaryimage"},"thumbnailUrl":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/suburban-homes-with-driveway.jpg","datePublished":"2022-02-23T21:00:50+00:00","dateModified":"2023-07-22T17:37:28+00:00","author":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/#\/schema\/person\/8cce324bd04987aa7dbe03a4a2a3eeee"},"breadcrumb":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/#primaryimage","url":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/suburban-homes-with-driveway.jpg","contentUrl":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2022\/02\/suburban-homes-with-driveway.jpg","width":1200,"height":794},{"@type":"BreadcrumbList","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/mortgage-types-explained\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.realtyhop.com\/mortgage-center\/"},{"@type":"ListItem","position":2,"name":"Mortgage Types Explained"}]},{"@type":"WebSite","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/#website","url":"https:\/\/www.realtyhop.com\/mortgage-center\/","name":"RealtyHop Mortgage Center","description":"RealtyHop Mortgage Center","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.realtyhop.com\/mortgage-center\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/#\/schema\/person\/8cce324bd04987aa7dbe03a4a2a3eeee","name":"Shane Lee","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g","caption":"Shane Lee"},"url":"https:\/\/www.realtyhop.com\/mortgage-center\/author\/alsoshane\/"}]}},"modified_by":"lawrence","_links":{"self":[{"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/posts\/944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/comments?post=944"}],"version-history":[{"count":1,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/posts\/944\/revisions"}],"predecessor-version":[{"id":946,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/posts\/944\/revisions\/946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/media\/949"}],"wp:attachment":[{"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/media?parent=944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/categories?post=944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/tags?post=944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}