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The NexTag Guide to Mortgages: Types of Mortgages
If you are already familiar with the various types of mortgages and their advantages and disadvantages, you can immediately be matched with up to five mortgage lenders. Otherwise, here is an excellent guide help find a mortgage that's right for you.
The mortgage Marketplace can be dissected as Primary or Secondary. You can think of the Primary Market as the place where originators and consumers interact. The Secondary Market is where the originator and other institutions buy, sell or swap the mortgage paper [typically in pools].
Below you will find a listing of mortgage attributes that you could find useful. By clicking each one of them, you will find the definitions.
- fixed-rate mortgage
- adjustable-rate mortgage
- variable-rate mortgage
- 80/20 mortgage
- 100-percent financing
- balloon mortgage
- biweekly mortgage
- blanket mortgage
- buydown mortgage
- COFI mortgage
- conventional mortgage
- convertible mortgage
- dual-index mortgage
- graduated-payment mortgage
- hybrid mortgage
- interest-only mortgage
- jumbo mortgage
- LIBOR mortgage
- overlapping mortgage
- overriding mortgage
- piggyback loans
- pledged-asset mortgage
- reverse mortgage
- shared-appreciation mortgage
- simple-interest mortgage
- subprime mortgage
- two-step mortgage
- wraparound mortgage
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