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  Advice for Mortgages

  Freddie Mac and Fannie Mae Profits – What a Difference a Few Years Make!

  The government-controlled mortgage giant Freddie Mac and its sibling organization Fannie Mae are making huge...

  The government-controlled mortgage giant Freddie Mac and its sibling organization Fannie Mae are making huge profits – just a few short years after having to borrow money from the federal government to stay afloat...

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  Advice for Mortgages

  Rising Home Prices Should Lead to Higher Mortgage Rates

  As the hot summer months approach, more and more people will begin to check the weather forecast to see what...

  As the hot summer months approach, more and more people will begin to check the weather forecast to see what the temperature is going to be. However, prospective homebuyers might want to also see if the mercury is rising in the...

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  Advice for Mortgages

  Is a Hybrid Mortgage Right for You?

  Hybrid mortgages are an interesting alternative, especially when interest rates are high. But even though...

  Hybrid mortgages are an interesting alternative, especially when interest rates are high. But even though mortgage rates are hovering near record lows right now, you still need to understand the concept before you sign on the...

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  The Top 3 Ways to Avoid Mortgage Scams

  Thanks to the housing market crash, many people had to walk away from their home and their mortgage, damaging...

  Thanks to the housing market crash, many people had to walk away from their home and their mortgage, damaging their credit report. Others simply saw their credit scores plummet when the economy plummeted. Since banks have gotten...

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  What Do New FHA Rules Mean for You?

  For the past few years, many Americans have been turning to government-backed mortgages to purchase a home,...

  For the past few years, many Americans have been turning to government-backed mortgages to purchase a home, but some new changes may reduce the number of borrowers who qualify for these types of loans. How did we get here...

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  How Do You Find the Perfect Mortgage?

  Finding the perfect mortgage is almost as important – and almost as difficult – as finding the...

  Finding the perfect mortgage is almost as important – and almost as difficult – as finding the perfect home! After all, a mortgage makes up a huge amount of money, and even with a low interest rate, you’re still...

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  The Ins and Outs of VA Loans

  If you are Active or Retired Military and considering purchasing a home, one type of financing you should...

  If you are Active or Retired Military and considering purchasing a home, one type of financing you should look into is the Veterans Affairs loans (or “VA loans”), which can be issued by qualified lenders. This type of...

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  Advice for Mortgages

  What Are Mortgage Rate Predictions Worth?

  Mortgage interest rates remain near all-time lows, but have slightly increased in recent months. That's...

  Mortgage interest rates remain near all-time lows, but have slightly increased in recent months. That's in line with what many experts within the lending industry have been predicting since the beginning of the year....

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  Advice for Mortgages

  The Top 3 Things You Need to Know About Today's Mortgage Rates

  New statistics released by one of the nation's most well-known lenders show that mortgage rates are...

  New statistics released by one of the nation's most well-known lenders show that mortgage rates are continuing to sink closer to all-time record lows, which is good news for anyone looking to purchase a home or refinance...

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Search for mortgage rates. Search for the lowest refinance rates in the nation. Have multiple lenders compete for your business. Different states show and offer different mortgage rates depending on jumbo loans, non conforming loans or conforming loans. Jumbo loans tend to have a different rate. Most home buyers choose either a 30-year or 15-year fixed loan. Buying a home is probably the biggest investment most people will make in their lives. It’s important to have the right real estate tools to make the right purchase for you. If you are looking to refinance your home loan, RealtyPin.com offers all the tools you need for free to make the right decision.

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The mortgage industry isn't one-size-fits-all. In order to find the right loan, you've got to understand all the different options:

1. Fixed Rate Mortgages
They're the most popular loans -- with 70% of U.S. homeowners taking advantage of them. As the name implies, the rates on these mortgages are locked in when your application is approved, and they stay the same until your loan is paid back or until you refinance. No matter what the nation's mortgage rates do, your monthly payments will always be the same. There is a little bit of variety in fixed rate mortgages, though. Yours can either be a 30-year or a 15-year mortgage.

2. Adjustable Rate Mortgages
Like fixed rate mortgages, adjustable rate mortgages come with both 30-year and 15-year options. But unlike fixed rate mortgages, these loans come with rates that change, depending on what the market does. As a result, your monthly payments will change throughout the duration of your loan. However, your payments may not change every month. In most cases, you'll have an adjustment period where your rate isn't allowed to change. Then, when that period ends, the rate changes. The length of your adjustment period will depend on your specific contract. Adjustable rate mortgages are great when rates drop, because you'll save money that you couldn't have with a fixed rate mortgage. And, luckily, many of these mortgages come with caps that prevent your rate from getting too high. Some even come with a lifetime cap -- which means your rate can never go past a certain point for the entire length of your loan.

3. Hybrid Mortgages
Technically, hybrids are considered adjustable rate mortgages, but since they work a little differently, they're given their own category. The most popular hybrid mortgages are:

- 5/5 Mortgages
With these loans, your rate will stay the same for the first 5 years. Once you hit your 6th year, your rate will be adjusted every 5 years.
- 5/1 Mortgages
Under the terms of these loans, your rate will stay the same for the first 5 years. Then, it will be adjusted once a year.

There are also 3/3, 3/1, and 10/1 mortgages that work the same way.
Hybrid mortgages are great for people who don't plan on living in their homes for very long. That way, they can take advantage of lower rates in the beginning, then sell before the rates change.

4. Balloon Mortgages
Similar to fixed rate mortgages, balloon loans don't change rates as you go along. However, unlike their fixed rate counterparts, they come with a big "balloon" payment at the end. These loans are great if you can afford a big lump payment because you'll get to take advantage of lower rates the rest of the time. However, lots of people get into trouble with balloon mortgages because they can't afford the big payment at the end. In fact, balloon mortgages played a big role in the housing bubble burst of 2007. When people couldn't afford their balloon payments, they went into foreclosure.

5. 2-Step Mortgages
Like the name suggests, these loans come with one rate for the first part of the mortgage, then change rates for the second part. Typically, these mortgages are popular with people who plan on selling their home before the second part begins. If you decide to stick around for the entire duration of your loan, you might be able to get a fixed rate for the first part of your mortgage, then switch to an adjustable rate for the second part.

6. Government Mortgages
These loans are backed by the federal government. In many cases, you have to meet certain criteria to qualify -- like VA loans for service members or USDA loans for people who live in rural areas. However, the FHA loan has become the most popular because it combines private lenders with the government. The money comes from a private lender, but is insured by the Federal Housing Administration. That way, if you default, the FHA pays your lender. FHA loans are designed for people who have bad credit and can't get a private loan on their own.