Securing a mortgage is a big step in the home buying process. Even if you've gone through the process before it's a good idea to learn as much as you can about the types of mortgages lenders are currently offering, the status of the market and current interest rates. Today there are many types of home loans available, ranging from the more traditional 15 or 30 year Fixed Rate and Adjustable Rate Mortgages to Interest-Only, Graduated Payment, Zero Down, and even Reverse Mortgages. Taking the time to analyze your current financial situation and future needs will help you choose the mortgage that's right for you.