FHA vs. Conventional Mortgage Loans – Understanding the Differences

mortgage loan agreementBuying a house is complicated, with more than its share of intimidating paperwork and legalese – especially for first-time buyers. One way to minimize the stress is to get a loan pre-approval that you can hang onto while you shop for the perfect house.

But which type of loan should you try to acquire? The first decision to make is whether to look for an FHA mortgage loan or a conventional mortgage loan. There is no perfect choice for all home buyers – which one is right for you depends upon your specific circumstances.

FHA vs. Conventional Mortgages

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6 Ways to Get Money for a Down Payment on a House

down paymentIt’s not easy to scrape together enough cash for 20% or even 5% of your new home’s purchase price. Yet the fact remains that the more cash you pay upfront, the easier it can be to qualify for and close on a loan. Plus, your mortgage payments will be smaller – especially if you can put down 20% and avoid private mortgage insurance. This is because lenders often give incentives, such as better interest rates and reduced insurance needs, for paying down a large percentage.

While it may be difficult to imagine coming up with enough money, you do have several options when it comes to increasing your down payment.

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8 Ways to Pay Less Taxes and Save Money

1040 formIf you’re like most Americans, you’re surely in search of new, creative ways to ease your annual tax burden. Fortunately, there are several ways you can cut your taxes or increase the amount of your tax refund without incurring the wrath of the IRS.

Tax credits and allowable deductions come and go as the IRS alters their rules and regulations from year to year. However, there are a number of ways to trim your taxes that are sure to remain applicable year after year.

How to Pay Less Taxes (Legally)

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