There are hundreds of different loan programs available to you as a consumer. Depending on your specific situation, there may only be a few that actually fit your needs.

It may seem odd, but be sure your Mortgage Professional asks about your career(possible relocation), family goals(more children), financial goals(early payoff), etc. before recommending one program or another. The time you spend undeerstanding some basics may put you into the right program, or keep you out of the wrong one.

What are adjustable rate mortgages? -- Popular alternative that starts with a lower rate and then adjusts according to the market interest rate. Initial fixed period ranges from 1 to 10 years.
What are balloon mortgages? -- Balloon, or Call, Mortgages have a balance due at a certain future date, usually five or seven years. At that point, you either pay it off or refinance the balance, many companies offer a conversion feature.
What are fixed rate mortgages? -- The old standby fixed rate mortgage is just that. A fixed rate of interest is paid over the term of the loan, either 10, 15, 20, or 30 years.
Which program is best for me? -- It is hard to say, but usually the best way to find out is to speak with a mortgage professional who will help you pick the right program.