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The economic crisis might be nation-wide, but there is no denying the fact that individual states have coped with its effects to varying degrees of success. For some states, the costs associated with buying a new home have increased, while in others mortgage loans with low interest rates are easier to find.For everyone, the desire to get a mortgage that does not drain what finances are available is strong. But such home loan options are pretty thin on the ground, which perhaps is why Florida has been highlighted as the best state in the country in which to buy a home.Exactly why the property market has made such a remarkable recovery so quickly in Florida may be down to the fact that movement to the state by retirees along the east coast means ensures demand for property remains high. However, much can be put down too to great deals in mortgage loans there.Best Florida DealsFor anyone seeking to purchase a home in the US, Florida is the place to go with a range of mortgage loans with low interest rates associated with them. This array of lending options ensures there is a mortgage available for almost every salary category and even for those with poor credit rating.Amongst the most popular Florida lending deals are FHA (Federal Housing Administration) loans, balloon loans and refinance loans, which all help to make home purchasing more affordable. But when it comes down to it, the best home loan options are decided principally by the interest rate charged.The number one mortgage loan type in the state is the fixed-rate interest mortgage, which has its clear advantages. These can range in term from 15 years to 30 years, and in that regard offer the opportunity to quickly repay and cash in on a property investment.Advantages Over An ARMThe reason for its popularity over an ARM (adjustable rate mortgage) is that the repayments with a fixed-rate mortgage never change. When seeking a mortgage loan with low interest rates an ARM is often the best choice, but the likelihood of that rate increasing is a worry.For example, if the interest rate on a fixed-rate mortgage is 3.5% then the repayments can be kept steady throughout the term of the debt. This type of home loan option is easy to budget for, and includes no risks in terms of financial pressures increasing in the future.If an ARM rate is 2.5%, it might seem to be a great rate for a mortgage loan. But should the market change dramatically, this could easily push the rate to 3.5% and even higher - perhaps over the 4% mark. It is important to consider the possible changes over a 3 or 5 year period, whichever the particular agreement is.Other Mortgage Types to ConsiderOf course, there are many other funding options for those seeking mortgage loans with low interest rates, with interest only loans very common amongst property buyers too. This home loan option serves a positive purpose as the principal of the mortgage can be regained by the lenders at a more opportune time in the future, while repayment pressures on the borrower are lessened.Construction loans are growing in popularity, as more and more buyers are actually seeking to build their own homes, thus getting a custom-built home at a lower price than older, pre-built homes.Also, refinancing mortgage loans are also growing in popularity with lower rates offered to those seeking to take control of their existing mortgage agreements.