The interest rate on this type of loan stays the same for as long as you hold your mortgage, no matter how interest rates change in the financial markets.  With this type of mortgage, you know exactly how much you will pay in principal and interest on your home each month (Remember that taxes & insurance on your home may change from year to year).

The FHA will insure the loan for the lender against loss in case the buyer cannot meet payments.  It requires the buyer to carry mortgage insurance through FHA.  FHA loans are available with as little as 3 percent down payment.

State sponsored fixed rate loan program to assist residents with buying homes at discounted rates with down payment assistance.

This federal agency will guarantee the mortgage offered by private lenders to qualified members of the armed forces, active military personnel, verterans or their widows.  In some cases one can buy a home on a VA loan with no down payment.

The interest on an ARM may vary up or down at fixed intervals.  The changes are tied to a financial index such as one-year Treasury Notes.  The ARM often offers a low beginning interest rate as a "teaser."  However, this rate will go up after a certain time.  If interest rates are low, an ARM may be a good option.  This is especially true if its "cap" (the highest interest you may be charged) is not more than a few points higher than the current fixed rate.  ARMs are of special interest to buyers who know their income will rise in the future or who don't plan to own th home for many years.

Up to 97% financing for the purchase of commerical assets.