This may not be the first time you’ve moved, but a few things may have changed since you applied for your last mortgage. Your loan originator will take you through all of the new options and assess how your situation may have changed now that you’re moving up. Listed below are some things to consider.

The rate and monthly payment stays the same for a fixed amount of time (10, seven, five, three, or one year), then adjusts periodically based on changes in a pre-selected index.

A mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA), the Farmers Home Administration (FmHA) and the Department of Veterans Affairs (VA). It is typically fixed in its terms and rate.

The Federal Housing Administration program, controlled by the Department of Housing and Urban Development (HUD), removes lender risk allowing buyers who might not otherwise qualify for a home loan to obtain one.

Intended for investment properties, larger home purchases or vacation homes, these loans can offer some flexibility allowing qualified applicants to use certain assets as income sources.

A loan that exceeds the conforming mortgage amount—currently $453,100, but may vary by state—and can take many forms, including fixed rate, ARM, and interest only.

For loans that don’t fit the standard guidelines, there are a large selection of loan options served locally.

Designed to provide assistance in purchasing a home for United States veterans. In most cases, no down payment is required and the parameters for obtaining the loan are less stringent.

All loan types