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– **Fixed-Rate Mortgage:** As the name implies, this loan sort offers a fixed interest rate for the whole term, which might range from 10 to 30 years. This means your month-to-month funds stay constant, making it simpler to budget.

– **Adjustable-Rate Mortgage (ARM):** This mortgage options an interest rate that can change periodically, usually in relation to an index. Initially, ARMs usually supply lower rates, but they will improve or lower over time.

– **FHA Loan:** Backed by the Federal Housing Administration, this mortgage is designed for low-to-moderate-income consumers and requires a smaller down cost.

– **VA Loan:** Available to active-duty navy members and veterans, VA loans are assured by the Department of Veterans Affairs and sometimes come with advantageous phra

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