Mortgage programs are financial products designed to help individuals purchase homes by providing loans. These programs vary in terms of interest rates, repayment periods, and eligibility requirements. Common types include fixed-rate mortgages, where the interest rate remains constant, and adjustable-rate mortgages, which can change over time. Many mortgage programs also cater to specific groups, such as first-time homebuyers or veterans. For example, the FHA loan program offers lower down payment options, while the VA loan program provides favorable terms for eligible military personnel. Understanding these options can help borrowers choose the best fit for their financial situation.