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Yes, there are home loans in the USA and the demand for such loans is still rising. There are 6 main types of the home loans:

  1. Fixed-rate loans. These loans are the most popular ones among Americans. It’s a long-term option, the repayment period complies 15 or 30 years, monthly payments and single interest rate.
  2. Adjustable-rate mortgage offers lower interest rate and smaller repayment period (5-10 years). Still, after the repayment period, your interest rate will change. If your interest rate will increase, your monthly payments will increase too.
  3. FHA loan – the down payment of the Federal Housing Administration loan starts from 3.5% what makes it one of the most desirable loan propositions ever. This loan is especially good for those, who have no substantial savings for down payment.
  4. Veterans Affairs loans are a great alternative to traditional mortgage as it’s possible to qualify for no money down and no mortgage insurance requirements.
  5. USDA loan is good for rural families or residents of the rural areas. No down payments are necessary as lenders finance 100% of the price of the house.
  6. A bridge loan is good for the potential borrowers that haven’t sold their previous house before purchasing a new one. Lenders just mix up your current and new mortgage into one payment.

P.S.: Also read about real estate tax.