The traditional 30 Year Fixed-Rate Mortgage has a constant interest rate and monthly payments that never change! Great if you plan to stay!
Conventional Mortgage Loans
The 15 Year Fixed-Rate Mortgage is fully amortized and features constant monthly payments, 30 Year-Fixed benefits plus a lower interest rate
The intial interest rate of an Adjustable Rate Mortgage is lower than fixed rate. Good option if you plan to stay for only a few years.