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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 Family Opportunity Mortgage (And How to Get One)? Thumbnail

What Is a Family Opportunity Mortgage (And How to Get One)?

SuperMoney Team

What Is a Mortgage: Complete Guide for 2026 Thumbnail

What Is a Mortgage: Complete Guide for 2026

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Adjustment Frequency in ARMs: Understanding, Impact, and Examples Thumbnail

Adjustment Frequency in ARMs: Understanding, Impact, and Examples

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What Is A Housing Bubble And How Does It Work? Thumbnail

What Is A Housing Bubble And How Does It Work?

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Nonperiodic Distribution: Definition, How It Works, Penalties, and Exemptions Thumbnail

Nonperiodic Distribution: Definition, How It Works, Penalties, and Exemptions

Dan Agbo

Scheduled Recast: Definition, Benefits, and Examples Thumbnail

Scheduled Recast: Definition, Benefits, and Examples

SuperMoney Team

First-Time Homebuyer Tax Credit: What It Is and How to Benefit Thumbnail

First-Time Homebuyer Tax Credit: What It Is and How to Benefit

Silas Bamigbola

Mortgage Companies: What They Are and How They Benefit Homebuyers Thumbnail

Mortgage Companies: What They Are and How They Benefit Homebuyers

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5/6 Hybrid ARM: How It Works, Pros, and Real-Life Examples Thumbnail

5/6 Hybrid ARM: How It Works, Pros, and Real-Life Examples

Silas Bamigbola

Nonconforming Mortgages Explained: Types, Pros, and Cons Thumbnail

Nonconforming Mortgages Explained: Types, Pros, and Cons

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.