It can be extremely difficult for the average borrower to understand the ins and outs of mortgages, particularly given the plethora of mortgage types available. Several resources are available to help home buyers on every level (from the first-time homebuyer to the experienced investor) understand the intricacies of an ARM, 80/20, 80/10/10, 80/15/5, conventional, zero-down, FHA, or VA Mortgage (just to name a few). If you're already a home owner, you may want to consider refinancing (replacing your current loan with a new one) into a lower (and/or fixed) interest rate, or you may need to tap into your home's equity for remodeling, repairs or debt consolidation with a home equity loan (or go with a home equity line of credit, for more flexible options). Search for a mortgage broker or traditional lender, learn the pros and cons of online lending institutions, play with payment calculators to determine how much mortgage you can afford.