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Home Purchase Mortgages

A home loan, also known as a mortgage, is a loan that is used to finance the purchase of a home. These loans are typically offered by banks, credit unions, and other financial institutions, and can be used to buy both existing and new homes. Continue Reading Below

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Industry Studies

2026 Mortgage Industry Study Thumbnail

2026 Mortgage Industry Study

Andrew Latham

Encyclopedia Articles

Discover the definition of financial terms related to home purchase mortgages.

Non-Recourse Loan: How It Works vs. Recourse Debt Thumbnail

Non-Recourse Loan: How It Works vs. Recourse Debt

Andrew Latham

Deed of Trust: What It Is, How It Differs from a Mortgage, and How Foreclosure Works Thumbnail

Deed of Trust: What It Is, How It Differs from a Mortgage, and How Foreclosure Works

Andrew Latham

What Is a Balloon Mortgage? Thumbnail

What Is a Balloon Mortgage?

David Hodges

Fully Amortizing Payment: What It Is and Examples Thumbnail

Fully Amortizing Payment: What It Is and Examples

SuperMoney Team

Real Estate Appraisal: How It Works, What It Costs, and What to Do If It Comes in Low Thumbnail

Real Estate Appraisal: How It Works, What It Costs, and What to Do If It Comes in Low

Andrew Latham

What is a 5/1 ARM? Pros and Cons Explained Thumbnail

What is a 5/1 ARM? Pros and Cons Explained

Ossiana Tepfenhart

2/28 ARM: Definition, Risks, and Real-Life Scenarios Thumbnail

2/28 ARM: Definition, Risks, and Real-Life Scenarios

SuperMoney Team

What is an Adjustable-Rate Mortgage? Thumbnail

What is an Adjustable-Rate Mortgage?

Andrew Latham

What Is Private Mortgage Insurance (PMI)? Thumbnail

What Is Private Mortgage Insurance (PMI)?

Andrew Latham

Down Payment: What It Is, How Much You Need, and How to Save for One Thumbnail

Down Payment: What It Is, How Much You Need, and How to Save for One

Andrew Latham

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Learn About Home Purchase Mortgages

Thumbnail for Blog Article: Leaseback On a House: Pros & Cons Explained

Leaseback On a House: Pros & Cons Explained

Lacey Stark

Thumbnail for Blog Article: ARMs Hit 11% of Mortgage Locks at 7.3% Rates. When a 7/1 Saves Money and When It Bites

ARMs Hit 11% of Mortgage Locks at 7.3% Rates. When a 7/1 Saves Money and When It Bites

SuperMoney Team

Thumbnail for Blog Article: Adjustable-Rate Mortgages Are Back at 10.3% of Applications. Is a 6.43% ARM Worth the Risk Over a 7.40% Fixed Rate?

Adjustable-Rate Mortgages Are Back at 10.3% of Applications. Is a 6.43% ARM Worth the Risk Over a 7.40% Fixed Rate?

SuperMoney Team

Thumbnail for Blog Article: How Much Equity Can I Have In My Home And Still File Chapter 13

How Much Equity Can I Have In My Home And Still File Chapter 13

Benjamin Locke

Thumbnail for Blog Article: Home Equity Loan To Buy Land

Home Equity Loan To Buy Land

Benjamin Locke

Thumbnail for Blog Article: What Are Reverse Mortgage Requirements?

What Are Reverse Mortgage Requirements?

Benjamin Locke

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About Home Purchase Mortgages

A home loan, also known as a mortgage, is a loan that is used to finance the purchase of a home. These loans are typically offered by banks, credit unions, and other financial institutions, and can be used to buy both existing and new homes. The terms of a home loan will vary depending on the lender, the type of loan, and the borrower's creditworthiness. In general, home loans involve borrowing a large sum of money and agreeing to repay it over a set period of time, typically 15 or 30 years. The borrower will also be required to make regular payments of interest and principal, which are used to pay down the loan balance and eventually pay off the loan in full.