Fixed Rate Loans
A mortgage in which the interest rate does not change during the entire term of the loan.
Adjustable Rate Loans
A mortgage in which the interest rate changes periodically, according to corresponding fluctuations in an index.
A mortgage that exceeds the generally accepted secondary market loan limits which vary annually.
A short term, interim loan for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work progresses.