Mortgage Resources

Building Futures One Buyer at a Time

It's a common misconception that buying a home comes with only a handful of mortgage options. In fact, there are something like 200 different types of loans available to home buyers! Obviously not all of those types of loans will work for you, but you do probably have a lot more options than you realize!

Take some time to learn a little more about the types of mortgages. Still have questions or need lender recommendations? Feel free to contact us at any time!

Common Loan Types

Here are some of the most common types of loans used by Triangle-area home buyers.

Conventional Loan

  • Usually 15 or 30 year duration
  • Can be fixed-rate or adjustable
  • Typically requires great credit, financial history, and a 20% down payment

USDA Rural Loan

  • Targeted to buyers searching in "rural" areas
  • As little as 0% down payment
  • Targets buyers with "steady, low, or modest income"

FHA Loan

  • Flexible income and credit requirements
  • 3 – 5% down payment options
  • Requires mortgage insurance and may have higher interest rates

VA Loan

  • Available to most military service members and veterans
  • As little as 0% down payment, with NO mortgage insurance
  • May require a one-time funding fee

Balloon Mortgage

  • Has a short term of 5 – 7 years but payments based on a 30-year loan
  • At the end of the loan, borrower must pay off the balance, refinance the loan, or convert the loan
  • May have lower interest rates and credit requirements


  • Buyers get lower rates in exchange for a share of the profits when the home sells
  • Lenders don't make money unless the buyer does, buyer loses out on more home equity
  • Often used to help low-income buyers

First-Time Buyer Loans

  • State-funded programs designed to help first-time buyers
  • May help with closing costs or down payments, offer low interest rates, and require less strict credit qualifications
  • May require a homebuyer education course

Lender-Specialty Loans

  • Some mortgage brokers or banks may offer their own specialty loan programs
  • May offer lower down payments or credit requirements
  • Often geared towards first-time buyers or low-to-moderate income buyers

Our Lending Partners

At HTR, we want to make homebuying—including finding a loan—as easy as possible. So we've taken some of the legwork out of finding a reputable mortgage lender. Our lending parters are some of the best in the area at what they do.

Garner | Benson

Brian Campbell

Brian Campbell
Mortgage Loan Officer
NMLS# 414499919-622-5649

336 East Main Street, Clayton, NC

April Woodard
Mortgage Loan Officer
Cell (919) 262-6826

336 East Main Street, Clayton, NC

Cathy A Stubbs
Market Manager/Mortgage Consultant
Cell 919-422-2800

Calculate Your Mortgage

Want to get an idea of what your monthly payments will look like at different home prices and interest rates? Try out our nifty mortgage calculator below!

Start Your Calculation