Definitions for "Loan Type"
We can help with conventional, FHA and VA loan programs. If you need further explanation, proceed to the product descriptions for each loan type.
Search filter used in some list types, you are able to include or exclude the types of loans (Conventional, FHA, VA) you want in your list.
The type of loan determines its borrowing limit, down payment requirements, and qualifying rules. Available loan types include conforming, jumbo, FHA, and VA.
Home, auto, personal, and home equity are all loan types. The two most common loans types, home equity and personal, differ in fees, rates, and tax deductibility of interest. Home equity loans often have higher fees, but usually have lower rates and a tax deduction for interest paid. Personal loans do not have a tax deduction for interest paid, and have a higher interest rate, but often have lower upfront fees. These are important considerations when choosing a loan.
See Federal Family Education Loan Program and the Direct Loan Program.