Browsing: Mortgage Types
A closed mortgage offers lower rates but locks you in with prepayment penalties. Here’s how the exit costs work and when closing is still the right move.
An open mortgage lets you pay off your home loan early without penalty, but you’ll pay a higher rate for the freedom. Here’s how to know if it’s worth it.
A practical guide to graduated equity mortgages: how they work, who offers them, and whether this shared-equity loan can help you buy a home with less cash upfront. Here’s what to know.
A shared equity mortgage splits your home’s cost with a government scheme or private investor. Here’s how the numbers work and the risks to check first.
A wraparound mortgage lets a seller finance your home while keeping their original loan in place. Here’s how the math works, who benefits, and the risks to watch.
An assumable mortgage lets a buyer take over the seller’s low interest rate. Discover which loans qualify, what it costs, and how to find one.
Seller financing mortgage explained: how owner financing works, balloon payments, due-on-sale clauses, risks, and real-world scenarios for buyers and sellers.
Need to close fast on an investment property? Find out what a hard money mortgage is, how much it costs, and when double-digit rates are actually worth it.
Learn what a private mortgage is, how it differs from private mortgage insurance, what it really costs, and when borrowing from a private lender is smart.
Explore how a portfolio mortgage works, who qualifies, typical rates and terms, and why flexible lenders keep loans on their own books instead of selling them.