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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.

What Is a Graduated Payment Mortgage? Thumbnail

What Is a Graduated Payment Mortgage?

Ossiana Tepfenhart

What Is a Conforming Loan? Thumbnail

What Is a Conforming Loan?

David Hodges

What Is a Mortgage Constant and How to Calculate It? Thumbnail

What Is a Mortgage Constant and How to Calculate It?

Emily Africa

What is a Portfolio Loan? Thumbnail

What is a Portfolio Loan?

Jamela Adam

Joint Credit: Definition, Dynamics, and Real-Life Scenarios Thumbnail

Joint Credit: Definition, Dynamics, and Real-Life Scenarios

Silas Bamigbola

Mortgage Recast: How It Works, Benefits, And More Thumbnail

Mortgage Recast: How It Works, Benefits, And More

Dan Agbo

What is a Purchase Money Mortgage? Thumbnail

What is a Purchase Money Mortgage?

Camilla Smoot

Jumbo Loan Explained: How Does It Work and When Is a Good Option? Thumbnail

Jumbo Loan Explained: How Does It Work and When Is a Good Option?

SuperMoney Team

What Is a Fixed-Rate Mortgage? Examples and How It Works Thumbnail

What Is a Fixed-Rate Mortgage? Examples and How It Works

SuperMoney Team

Thrift Banks: Definition, Services, and Impact Thumbnail

Thrift Banks: Definition, Services, and Impact

Silas Bamigbola

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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.