Loan Types Explained

Conforming versus non-conforming loans. So if you live in a locale where the conforming loan is $417,000 and you take out a single mortgage for $500,000, you’d have to opt for the non-conforming loan. Although Fannie Mae and Freddie Mac are now controlled by the government, these types of loans are not government loans.

Jumbo Interest Only Mortgage Rates Interest rates rise and fall in. compared to a 30-year, fixed rate jumbo mortgage,” said Katie. Jumbo Interest Only Mortgage Rates – We are most popular loan refinancing company. We can help you to save your money and time when refinancing your mortgage or buying a home.

loan types explained April 27, 2011 by webmaster There are hundreds of different home loan products on the market, each with different fees, features and interest rates. Read about the types of loans and the pros and cons for each one, it might help you with your decision.

Refinance Interest Only Loan Other than our loans for the construction of one-to-four family residential mortgage loans, we do not offer "interest only" mortgage loans on one-to. Policies" to the accompanying Consolidated.

Types of Personal Loans Unsecured personal loans. This common type of personal loan isn’t backed by collateral, Secured personal loans. These loans are backed by collateral, which can be seized by. Fixed-rate loans. Most personal loans carry fixed rates, which means your rate and monthly.

Different types of government guaranteed business loans. Understanding SBA guaranteed loans can be tricky. Here are the details: 7(a) Loans. 7(a) loans are the SBA’s most popular type of guaranteed business loan. The SBA can guarantee up to 85 percent of loans of $150,000 or less and 75 percent of loans of more than $150,000.

 · The application for this type of loan is typically only one or two pages in length. Approvals (or denials) are generally granted within a few days. The downside is that the interest rates on these loans can be quite high: around 10% currently, for a standard 24-month loan, according to.

There are two main types of mortgages: Fixed rate: The interest you’re charged stays the same for a number of years, typically between two to five years. Variable rate: The interest you pay can change. fixed rate mortgages. The interest rate you pay will stay the same throughout the length of the deal no matter what happens to interest rates.

Loan Types Explained – Pros and Cons of each loan type – Loan types explained. April 27, 2011 by webmaster. There are hundreds of different home loan products on the market, each with different fees, features and interest rates. read about the types of loans and the pros and cons for each one, it might help you with your decision.

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