Prequalified And Pre-approved: What's the Difference?
If you're thinking about buying a home, then you've probably heard the terms "pre-approval" and "prequalification." While often used interchangeably, there's a slight difference between the two. This blog will go over what it means to be prequalified versus pre-approved. Prequalified And Pre-approved: What's the Difference? Both terms refer to the initial steps taken to determine whether you're a strong applicant for a home loan and how much. But there's a difference between
Learn About Deducting Mortgage Interest From Your Taxes
One of the perks of a mortgage is the "mortgage interest deduction." Read on to learn what a mortgage deduction is, how much you can reduce from your taxable income, and how you can take advantage of this tax incentive. About Mortgage Interest Deduction The mortgage interest deduction is part of your itemized tax deductions, and it subtracts any interest you've paid on loans used to build, purchase or renovate a property. This means that you can subtract a portion of the mort
FHA or VA Loan: Which is Better For Veterans?
Veterans have benefits awarded exclusively to them for their dedication and service, including disability and education compensation, career training, health care, and even home loans. However, with federally-funded home loans, there is more than one option. When it comes down to it, what is the best -- FHA loans or VA loans? This article will help you understand and make an informed decision on which loan is best for you. FHA Loans An FHA loan is a US Federal Housing Adminis