changing tax laws - are you up-to-date?

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changing tax laws - are you up-to-date?

Taxes are a complicated subject and making the slightest mistake could end up costing you quite a bit in penalties. Do you spend time each year keeping up with the changing tax laws? These laws change more often than you might think. Before you consider filing your taxes on your own, stop and think about what it will cost you to have them professionally prepared versus paying the penalties for making mistakes. My site includes information about the ever-changing tax laws as I know them to be now. The information here is only meant to guide you to making the best possible decisions for your personal situation.

3 Things That Will Help You Get A Lower Interest Rate On Your Mortgage

You probably already know that one of the primary things that you should look at when buying a home is the interest rate that you will have to pay on your mortgage. What you might not know is how you can actually find a mortgage with a lower interest rate. Try the three tips listed below to help make sure that you are taking out the mortgage that is going to be most affordable over the long term. The savings can be significant if you can find a mortgage with an interest rate that is even just a couple of points lower.

1. Coming Up With a Big Down Payment

There are a couple of reasons why it's smart to bring a big down payment to the table when applying for a mortgage. This can often make it a little easier for you to get approved, for one thing. It can also increase your buying power, making it possible for you to get the home that you really want. Additionally, many lenders offer a lower interest rate to those who have a bigger down payment. You can also significantly reduce your monthly payment by putting more down in the beginning, which is something that you will probably be glad about in the coming years when you have to make a payment on your home each month.

2. Financing Your Home Over a Shorter Term

Next, you should think about the possibility of financing your home over a shorter term. For example, instead of taking out a 30-year mortgage, you could sign up for a 15-year mortgage. Many lenders will offer a lower interest rate on shorter-term mortgages. You will have to be prepared to pay a higher monthly payment if you choose to do this, but you will have the added benefit of getting your home paid off much earlier.

3. Improving Your Credit Score Before Buying

If you aren't happy with the interest rates that you are being offered -- or if you are having trouble getting approved for mortgages -- then you should think about improving your credit score before buying. This is not something that will happen overnight, but if you dedicate a little time to boosting your credit score now, you can help increase your options and can potentially score a much lower interest rate when you do finally take out a mortgage.

For more information, you can contact companies like Sharefax Credit Union.