How Do You Select Between FHA And Conventional Mortgage Loan?
Once you have read my article on getting $8000 Tax credit on a home purchase, it is time to understand the details of mortgage that a bank will approve you. You can find the home purchasing articles at http://www.ehow.com/how_4789981_buy-home-using-tax-credit.html. Most of the people rely on their lender’s recommendation but it is important that you understand the meaning of what you are going to buy as it can save you lot of money. MARKET RESEARCH – Know the market. Read finance news daily as this is the time when you are going to make the biggest purchase of your life – A home; and you have to make sure you spend money wisely and build your equity as soon as possible. Note down and record the interest rates for a few weeks. Be aware of the news and trends which will give you an idea about when you should lock the best possible interest rate. TYPES OF LOANS – When you find a good finance agent, you will be explained terms and conditions of two most common mortgage types – FHA and Conv
