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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 an Asset-Based Mortgage? Thumbnail

What Is an Asset-Based Mortgage?

Bryce Sanders

Wrap Around Mortgage: What is it and how does it work? Thumbnail

Wrap Around Mortgage: What is it and how does it work?

SuperMoney Team

What Is a 10/1 ARM Mortgage? Thumbnail

What Is a 10/1 ARM Mortgage?

David Hodges

What is an Open-End Mortgage? Thumbnail

What is an Open-End Mortgage?

Joseph Wales

Hybrid ARMs: Definition, Types, and Financial Strategies Thumbnail

Hybrid ARMs: Definition, Types, and Financial Strategies

Silas Bamigbola

What Is a Mortgage Commitment Letter? Thumbnail

What Is a Mortgage Commitment Letter?

David Hodges

Adjustable-Rate Mortgage (ARM) Reset Dates: Definition, Impact, and Strategies Thumbnail

Adjustable-Rate Mortgage (ARM) Reset Dates: Definition, Impact, and Strategies

Alessandra Nicole

Understanding 3/27 Adjustable-Rate Mortgages: Definition, Functionality, and Considerations Thumbnail

Understanding 3/27 Adjustable-Rate Mortgages: Definition, Functionality, and Considerations

Abi Bus

ARM Margin: Definition, Impact, and FAQs Thumbnail

ARM Margin: Definition, Impact, and FAQs

Abi Bus

Mortgage Recast Calculator: How to Reamortize and Save Money Thumbnail

Mortgage Recast Calculator: How to Reamortize and Save Money

Ossiana Tepfenhart

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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.