Buying a home is an exciting milestone in life, but it can also be a confusing and overwhelming process, especially for first-time buyers. One of the most important choices you’ll make is deciding which type of mortgage is best suited for your needs. There are several different types of mortgage loans available, each with its own impressive set of features, advantages, and drawbacks. To help you make an informed decision, here’s a breakdown of the six most common types of mortgage loans:
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