*Article contributed by Sasha Belopoljanski.
Buying your first home is a momentous occasion. After all, having a place that you can call your own is one of life’s greatest achievements. But it’s not something that happens overnight and with little in the way of effort. With the real estate market approaching pre-recession highs, it can be tough to purchase a home without taking a substantial loan to help cover the costs.
First-time buyers in particular may find the act of navigating the various home loan options out there quite challenging. So let’s take a closer look at the three most common loan types and see which one fits best for your situation: