Most homes are bought with mortgage loans, which let you buy property and come with tax-deductible interest. If you’re in the market for a new home, especially if you’re a first-time homebuyer, take some time to learn the ins and outs of mortgage financing so you know what to expect. You’ll also need documentation of liquid assets, cash in the bank, as well as credit history and current income.
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Home Buying 101: How to Get a Mortgage