Even if you have a general idea of the kind of property you want and how much you want to spend, the rates, details, and guidelines are interlinked in a complex web. A slight change in your plans can shift the loans available to you, or which loan becomes more desirable. And even if your plans don't shift, loan guidelines shift often, and interest rates shift at least daily, which is why we depict the loan variables as frogs! The lender or broker can explain the basic types of loan: fixed, adjustable (ARM), or hybrid (start fixed and rolling into adjustable, or starting adjustable and rolling into fixed). Loans are further divided into conventional loans and government loans (VA, FHA) depending on the source of the money, and between conforming and jumbo loans depending on the loan amount.