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5 Things Your Accountant Wishes You Knew About Owning a Home

Elizabeth Simpson/Getty Images What’s not to love about tax season? The chill you get when you realize you owe the IRS thousands, the fear that you may be getting a bit too aggressive on your deductions, the fleeting hope you’re due for a big return … that’s dashed when you end up with $2… OK, so maybe only accountants …

Is a 15-Year Mortgage a Good Option for You?

The 15-year mortgage sounds tempting when you’re buying a home. You could get this place paid off in less than two decades! If you are looking for a good fixed-rate mortgage option, how do you decided between the 30-year mortgage or a 15-year mortgage? Each has its pros and cons. 15-year mortgage interest rates A 15-year fixed-rate …

4 Mortgage Scams to Avoid When You’re Buying a House

KenTannenbaum/iStock Mortgage scams are easier to spot than you might think. Ever see financing offers that seem too good to be true? Well, guess what? Sometimes they are! And they could seriously mess with your savings. To help you separate the real deals from the rip-offs, we’ve spotlighted a few terms you may have seen that could be —how do …

Should You Buy a House With Your Credit Card?

If you’ve found a home that costs less than your available credit limit, skipping the mortgage process and charging the property to your credit card might seem like a viable option—and in many ways, it is. You can buy a house with your credit card to some benefit, but this non-traditional approach to homeownership has several disadvantages you …

Can I Qualify for FHA Loan After Short Sale?

Q: Can I purchase a home using FHA 3 percent down, when I sold my previous home on a short sale in June 2009? – Anonymous in Florida A: It would depend on your credit score, but typically you need to wait 2-3 years before you can buy again after a short sale with FHA …

VA Appraisal vs. Home Inspection

The VA appraisal is a crucial part of the home-buying process for qualified veterans and service members. VA appraisals focus on valuation and a more broad-based check of property conditions that could affect health, safety, or marketability. Every VA buyer needs to clear the appraisal hurdle. But understand that an appraisal is not a home inspection. …

A Closer Look at Credit, VA Loans

Veterans United The $0 down payment benefit grabs all the headlines, but the more relaxed credit requirements for VA loans are one of the program’s most understated advantages. Lenders ratcheted up their requirements after the subprime mortgage meltdown. Mortgage credit is starting to thaw, but it’s still tough for many veterans and military buyers to secure …

What Is MIP? Mortgage Insurance Premium, Explained

MicroStockHub/iStock If you’re a first-time mortgage borrower, you might be asking yourself, “What is MIP?” Home buyers considering getting a loan from the Federal Housing Administration will find MIP, or mortgage insurance premium, especially relevant because all FHA loans require insurance. Here’s what you need to know about MIP, including the rate you can expect …