A Guide to 6 Standard Home Loans
Owning a home is part of the American dream, but the path to living in your own home isn't simple or easy. The median home value in the U.S. was recently around $200,000, which means a lot of homebuyers should be aiming for a hefty $40,000 down payment (20% of the value of the home).
Once you have your down payment ready, it's time to shop for a mortgage. That can be confusing, though, as there are many different kinds of mortgages with different terms and features. Here's an introduction to some standard mortgages that many people get.
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Source: Fool.com
