Which mortgage type includes personal property?

A package mortgage is designed to include not only real property, such as land and any buildings on it, but also personal property, which can encompass items like appliances, furniture, or other movable goods. This type of mortgage is particularly useful for buyers who are purchasing a home along with any necessary furnishings or equipment, allowing for a more streamlined financial process since both the real estate and personal property can be financed together under one mortgage agreement.

In contrast, other types of mortgages listed do not include personal property within their financing structure. For instance, adjustable-rate mortgages, conventional mortgages, and subprime mortgages typically focus solely on the real estate aspect of the transaction and do not encompass personal belongings, as their primary agreements revolve around the loan secured by the property itself.