Consumer mortgages are either fixed rates or adjustable rate/ARM's. Mortgages are made by private lending institutions such as banks, credit unions and by the government such as FHA and VA. Mortgage brokers can help you find the best consumer mortgages for your financial situation and type of property you are purchasing. Adjustable rate consumer mortgages have a variable interest rate that fluctuates before adjusting. Most have cap rates. Fixed rate consumer mortgages are generally 10, 15, 30, 40 or 50 year and are fully amortized. These consumer mortgages are considered either conventional or jumbo depending on the loan amount. FHA and VA consumer mortgages are insured by the government. If the borrower defaults, the government pays off the remaining loan balance to the lender. Government consumer mortgages have different eligibility requirements and lending guidelines than conventional Fannie Mae loans.