Loan Type		Which Means...		It´s For You If . . .		And You are . . .
30-year Fixed		The payments are Locked in for the life of the loan.		want complete predictability. Interest rates are higher, but your payments won´t change for the life of the loan.		likely to stay in the same house for at least seven years.
Adjustable Rate		The interest rate is fixed for a set period, then fluctuates on a monthly or yearly basis.		are willing to accept a fluctuating interest rate in exchange for a lower rate and monthly payments. The shorter the fixed term, the lower the interest rate.		likely to move or refinance within 5 years ? or are comfortable with interest rate fluctuation.
Interest Only		You make only interest payments for a set period, then you add principal payments too.		keep your payments down in the short term. Interest-only payments can reduce your monthly outlay by about 20% , giving you more control over your monthly cash flow.		confident that your income will rise in the future.
Piggyback		Two mortgages (or a mortgage and a home equity Loan) obtained at the same time.		want a great alternative to putting up much cash for a down payment and also want to avoid private mortgage insurance (PMI).		a buyer whose private mortgage insurance (PMI) would cost more than the interest on the piggyback loan.