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Mortgage banker handing over house key to young couple who recently purchased a house with a mortgage loan

Types of
Mortgage Loans

Whether you’re a first time homebuyer or an experienced real estate investor, Quaint Oak Mortgage is here to provide you with the knowledge and tools necessary to make an informed decision about which type of mortgage loan is right for you. By offering a range of mortgage products to our customers, we can deliver solutions that are best suited to your needs.  

With so many different types of mortgage loans available, our team prioritizes walking you through the process so you feel confident when purchasing or refinancing your home. We will explain the various mortgage loans to help you understand your options and empower you in your journey to homeownership.

Fixed-Rate and Adjustable Rate Mortgage Solutions

Purchasing or refinancing a home is one of the most important financial decisions you can make. Choosing a mortgage solution that aligns with your budget and lifestyle is crucial for your long-term success as a homeowner. Most lenders provide options between fixed or adjustable-rate mortgages to help you find one that best fits your unique financial situation.

With a fixed-rate mortgage, you lock in the same interest rate for the full loan term. Since the interest rate remains unchanged, a fixed-rate mortgage offers peace of mind for future budgeting as these mortgages shield against rising interest rates. This provides reliable predictability, making it easier to budget as your monthly payments won’t fluctuate.

Adjustable-rate mortgages start with a lower introductory interest rate that then changes periodically based on market conditions. Adjustable-rate mortgages feature a fixed rate for the initial years of the loan, commonly 5 or 7 years, and subsequently adjust at specified intervals after the initial fixed period. ARM loans typically start with a lower interest rate compared to fixed mortgages, making them an appealing option for borrowers who plan to sell or refinance within a few years of the loan. 

Connect with an experienced Quaint Oak mortgage banker today and we can work together to find the mortgage solution that best suits your lending needs. Together, we can determine if a fixed-rate or adjustable-rate mortgage meets the needs for your homebuying journey and discuss any other possible lending solutions.

Selecting the Right Mortgage Product for You

The Quaint Oak Mortgage team is dedicated to helping you navigate the variety of mortgage products to find the one that fits your unique situation. These may include:

Conventional Mortgages

Fannie Mae and Freddie Mac Loans

Government-Backed Mortgages

FHA, VA, and USDA Loans

Speciality Mortgages

DSCR, PHFA, Jumbo, Bank Statement, and Renovation Loans

Down Payment Assistance

Philly First Home, PHFA K-Fit, Keystone Advantage, and First Front Door Programs

Our goal is to make choosing a mortgage product as simple and stress-free as possible, supporting you every step of the way so you can focus on finding your dream home.

Gray house with yellow door with tulips on front walkway

Another type of mortgage loan offered by Quaint Oak Mortgage is a 2-1 buydown. This flexible lending solution can be combined with both conventional and FHA loan options and provides a way to manage your payments during the initial years of homeownership.

Achieving Your Goals with the Perfect Mortgage Loan

Choosing the right type of mortgage loan is essential to achieving your homeownership goals. At Quaint Oak Mortgage, we are here to guide you in making informed decisions and provide you with lending options that work for you. Contact a member of our team to learn more about how we can serve you on your home buying journey.