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What is a 30-year mortgage?
Longer term with lower payments and more total interest.
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What is an interest-only loan?
Allows interest-only payments for a set period.
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What is a balloon mortgage?
Requires a large final payment.
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What is a non-QM loan?
Loans outside standard agency guidelines.
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What is a DSCR loan?
Investment loan based on rental income.
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What is a foreign national loan?
Mortgage for non-U.S. residents.
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What is a hard money loan?
Short-term, asset-based financing.
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What is a construction loan?
Finances building a new property.
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What is a renovation loan?
Combines purchase and rehab costs.
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What is FHA 203(k)?
FHA renovation mortgage.
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