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Types Of Mortgages

Before you apply for your mortgage loan, you'll need to decide which type of loan may be right for you.

Conventional Fixed Rate

CONVENTIONAL FIXED RATE MORTGAGES

Conventional Fixed Rate Mortgages offer the security of a fixed principal and interest payment, with terms of 15 to 30 years. Fixed rate mortgages are issued under guidelines of Fannie Mae. Private mortgage insurance is usually required for loans with less than a 20% down payment.