my home loan choices and how I compare them

What I learned

When I first looked at my home loan, I was torn between a fixed-rate and an adjustable-rate mortgage. The fixed plan felt calm and predictable, while the ARM dangled a lower starter rate that could climb later.

Popular options side by side

For me, a conventional loan with solid credit offered the best pricing, but I also ran numbers on FHA for the lower down payment and on a lender that offered an offset account to shrink interest. I focused on total cost, not just the monthly bill.

• Fixed-rate: steady payments, higher initial rate, easier budgeting.
• Adjustable-rate: lower intro cost, potential hikes, useful if I may move soon.
• FHA vs conventional: easier entry vs potentially cheaper over the life of the loan.

To choose, I compared APRs, discount points, and closing credits, then stress-tested the payment at +2% rates. With that, my home loan choice became clear and I locked when the lender offered a no-cost float-down.