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2. 5 types of mortgage loans for homebuyers - AOL

   www.aol.com/finance/5-types-mortgage-loans...

   Jumbo mortgages are home loans in an amount that surpasses FHFA’s conforming loan limits. In 2024, that means any loan over $766,550, or $1,149,825 in higher-cost areas.

3. What is a mortgage? A definitive guide for aspiring homeowners

   www.aol.com/finance/mortgage-definitive-guide...

   Conventional loans – A conventional mortgage is not backed by the government or government agency; instead, it is made and guaranteed through a private-sector lender (bank, credit union ...

4. Open-ended mortgages: What are they and how do they work? - AOL

   www.aol.com/finance/open-ended-mortgages...

   Example of an open-end mortgage Let’s say you were approved for an open-end mortgage in the amount of $500,000 and buy a home for $440,000. You’ll begin repaying principal and interest on the ...

5. Fixed-rate mortgage - Wikipedia

   en.wikipedia.org/wiki/Fixed-rate_mortgage

   The fixed-rate mortgage was the first mortgage loan that was fully amortized (fully paid at the end of the loan) precluding successive loans, and had fixed interest rates and payments. Fixed-rate mortgages are the most classic form of loan for home and product purchasing in the United States. The most common terms are 15-year and 30-year ...

6. Mortgage - Wikipedia

   en.wikipedia.org/wiki/Mortgage

   A mortgage loan or simply mortgage (/ ˈ m ɔːr ɡ ɪ dʒ /), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.

7. Alt-A - Wikipedia

   en.wikipedia.org/wiki/Alt-A

   An Alt-A mortgage, short for Alternative A-paper, is a type of U.S. mortgage that, for various reasons, is considered riskier than A-paper, or "prime", and less risky than "subprime," the riskiest category. For these reasons, as well as in some cases their size, Alt-A loans are not eligible for purchase by Fannie Mae or Freddie Mac. [1]