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Mortgage loans that allow the borrower to switch among a variety of payment arrangements throughout the life of the loan are more commonly referred to as option ARM loans.
A mortgage is a contract between you and a lender that entitles the lender to receive your property if you fail to repay the money and interest you borrowed. Mortgage loans are used to buy a home or borrow money depending on the value of a home you already own.
Mortgage Types
Traditional Loans – Best for borrowers with good credit.
Jumbo Loan – Perfect for high credit borrowers looking to purchase a high-value home.
Government Insured Loans – Best for borrowers with low credit ratings and minimal cash down payment.
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Mortgage loans that allow the borrower to switch among a variety of payment arrangements throughout the life of the loan are more commonly referred to as
subprime loans.
option ARM loans.
hybrid ARM loans.
alt-A loans
