Common types include: Fixed-Rate Mortgage (interest rate remains the same), Adjustable-Rate Mortgage (ARM) (rate adjusts periodically), FHA Loan (government-insured with lower down payment/credit requirements), VA Loan (government-backed for veterans, often no down payment), USDA Loan (government-backed for rural/suburban homes, often no down payment), and Jumbo Loan (for higher-priced properties exceeding conforming limits).