Not all loan products are the same, nor are borrower situations. For first-time homebuyers, you’ll most likely hear about the most popular 30-year fixed-rate conventional loan, and there’s no arguing that it's a great loan product for most buyers but not in all circumstances.
However, other mortgage options could be better, depending on your financial circumstances and future plans.
The best way to know is to talk to a mortgage professional. But you can start getting familiar with your options with this article.
If you plan to stay for a long time
When you come across a home you fall in love with and plan to stay in the property forever, a fixed-rate loan is a good option.
These loans can give you peace of mind since you pay the same…