A home equity loan (or commonly referred to as a 30-year loan) is a type of loan that has a substantially higher interest rate than other types of home equity loans. A typical home equity loan has variable interest rates with terms of up to 30 years. The term of the loan is typically set by the...

What is a jumbo loan? The simple definition is "a large mortgage loan, usually for more than twice the home's fair market value", which is higher than the maximum mortgage limit. In the United States, a jumbo loan is a sub-prime mortgage loan that can have high credit quality, however is still...

When a person is looking to purchase a new home, they may wonder what types of loans they will be able to qualify for. A few options are available to the borrower of this type of loan. These programs include: home equity loans, second mortgages, home equity lines of credit, and first time...