Fixed = client pays off a fixed rate over a fixed time period regardless of changes in trends that may cause the loan payment to increase or decrease.

FHA= 1st time buyers with low or no downpayment and lower credit scores. It is secured by Mortgage insurance that is included in the payment of the loan.

VA= former military and is usually no money down. Interest Only=borrow has option to pay only the interest on this loan for a specified period of time.

Adjustable (ARM)= a client who wants a lower rate up front and is willing to have the payments balloon at a later date. Someone who.