Mortgage loans come in several types, each structured to meet specific financial needs, property goals, and borrower profiles. Conventional loans are not insured or guaranteed by the government and generally require strong credit scores and larger down payments. They are well-suited for borrowers with consistent income and a good credit history. FHA loans, insured by the Federal Housing Administration, are designed for individuals with lower credit scores or limited savings, offering more flexible qualification criteria and lower initial costs. VA loans are exclusively available to eligible veterans, active-duty service members, and certain military spouses. These loans typically require no down payment and no mortgage insurance, making them accessible and cost-effective. USDA loans are tailored for low- to moderate-income buyers in rural and suburban areas, often offering zero down payment options. For high-value properties, jumbo loans are available but come with stricter qualification requirements due to their size. Borrowers may also choose between fixed-rate mortgages, which offer predictable payments, or adjustable-rate mortgages (ARMs), which start with lower interest rates that adjust over time.