30 Year Mortgage Loan
The 30 year mortgage is the most basic type of loan you can get at any bank. The bank doesn't matter because most banks offer the same basic mortgages. It's a 30 year fixed rate mortgage which was the cheapest route until the 40 year mortgage came along.
Getting a fixed rate mortgage is a very good idea because you know that you can afford the monthly payment from the start. Getting into and type of ARM rate, or adjustable rate mortgage, can be overwhelming if you're at all unsure. Your interest rate can jump up to 2% per year after the short fixed portion they tell you about. The fixed portion ranges from 1 year to 10 years which adjusts the interest rate drastically.
The 30 year fixed rate is your best option in most cases unless you can afford the 15 year or 10 year mortgage. A mortgage calculator will show you that those loans will save you a lot of money. Online calculators are very important to use if you're not sure what your monthly payment will be.
If you're unsure about getting the higher mortgage payment then opt into the 30 year mortgage and pay extra principal on the months you feel comfortable. If you can pay the same amount of principal in the 15 year loan then you wont pay and extra dime compared to the 30 year loan. You may however be offered a slightly better interest rate if you get the shorter term. | 
