Home Buying Questions - Which Type of Home Loan?

Continuing our series on home buying questions, we come to a common question among first-time home buyers: "Which type of home loan should I choose?"

I avoid answering this question with any finality. I'm happy to teach people about the different types of mortgage loans, but only the home buyer can make that final decision. The best thing you can do is learn the pros and cons of each type of mortgage, try to determine how long you'll be in the home, and make your decision based on that.

Often, the decision comes down to two factors: (1) how long you'll be in the home, and (2) how comfortable you are with the uncertainty of changing interest rates.

Here's some information to help:
Types of Home Loans - A Home Buyer's Guide

Learn More
This blog post is part of an ongoing series of home buying Q&A.

~Brandon