What Type of Loan Should I Get for My Home?
Updated 20 days ago (March 6, 2026)
The type of mortgage loan you should get for your home will depend on several factors, including:
The costs of the loan, especially compared to your income.
Your preferred duration to repay the loan and size of the payments you are willing to make each month.
Your capacity to repay the loan in a timely manner.
When you deciding on the size and type of loan to get for your home, remember to work with your family and financial advisor. A mortgage is a significant expenditure and will impose requirements on your family for a long period of time.
Tellus TIP:
Typically, a government-insured loan will have lower rates and require a lower down payment. A conforming loan will be easier to qualify for and obtain. Thus, if you qualify, and if the loan meets your needs, choosing a conforming loan that is part of a government-backed program will often be preferable.
Financial Disclaimer: Tellus provides this content for informational purposes only. This is not financial advice. Financial returns and mortgage terms vary based on individual circumstances and market conditions. Consult a qualified financial advisor before making financial or borrowing decisions.