The type of property affects your mortgage options in the following ways ¹:

- Single-family homes: Most mortgage options are available for single-family homes, including conventional, fixed-rate, adjustable-rate, government-backed, and jumbo loans.

- Condos: Some mortgage options may have specific requirements or restrictions for condos, such as higher down payment requirements or specific condo association approval.

- Government-backed loans: Properties must meet specific requirements, such as location or type of property, to be eligible for government-backed loans like FHA, VA, or USDA loans.

- Jumbo loans: High-value properties may require jumbo loans, which have specific qualification requirements and higher down payment needs.

It's important to note that individual lenders may have additional requirements or restrictions based on the type of property.