Depending on your situation theirs numerous types of mortages for those who are looking into buying a home can choose from. The most common type of mortagages are the fixed mortagage and ARM mortagage. You also can get two type of mortages in one bundle like the 80/20 where you put 80% loan on one mortagage and 20% on the other. Most mortagages are from 1 yr to 30 yrs and as 5 yr intervals.