Types of mortgage loans in 2025

Knowing the types of mortgage loans available to you may just be the key to homeownership. It could land you a lower interest rate, give you some breathing room on your monthly payment, or even waive your need for a down payment. Here are the types of mortgage loans that should be on your radar. Common types of mortgage loans Conventional loan The most common type of mortgage is a conventional loan, which has two subsets: conforming and non-conforming loans. Conforming loan A conforming conventional l ...