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First Time Homebuyer Advice | Learn the Ropes

Learn the Mortgage Process as a First Time Homebuyer

VA Loans and FHA loans

These are both government loans but VA loans have different requirements such as being active in the military or a veteran of military service. Both loans carry additional fees but can be approved with a much smaller down payment.

Conventional mortgage loans

Conventional mortgages have still another set of requirements but are often the least expensive way to go in terms of interest rates and fees. However these loans require the larger down payment. Private mortgage insurance is available at a fee and will allow less money down.

As a first time homebuyer you will want to understand how to buy a house using one of many types of home loans available to you. You don't want to get in a situation where you can't afford your house because you over extended.

Check out our First Time Homebuyer Book Store

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