When it comes to real estate loans, there are three main types based on terms. The first type is a short-term loan, which typically lasts less than one year. These loans are often used for fix-and-flip projects or other quick investments that can be paid off quickly. The second type of real estate loan is a medium-term loan, which usually lasts between one and five years. These loans may be used for building or renovating properties, purchasing equipment for the property, or consolidating debt. Finally, long-term loans last more than five years and are commonly used for buying properties such as homes or commercial buildings. These types of loans often offer lower interest rates but require longer repayment periods.