Discuss about the major types of Mortgage loans-.docx

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There are several major types of mortgage loans. The most common types are fixed-rate mortgages where the interest rate stays the same for the life of the loan, and adjustable-rate mortgages where the interest rate fluctuates periodically based on market conditions. Other types include FHA loans which are insured by the Federal Housing Administration and have lower down payment requirements, VA loans which are guaranteed by the Department of Veterans Affairs for military veterans, and jumbo loans which are for amounts above conventional conforming loan limits.

Discuss about the major types of Mortgage loans.

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