FHA loans have limits on credit score, debt-to-income ratio, and mortgage amount, and require a 3.5% down payment, mortgage insurance, and an FHA-approved home appraisal. The property must be used primarily as a residence, and there are limitations on the amount of the mortgage. FHA pays for itself through profits earned by working through lenders […]
Tax authorities impose charitable deduction caps to prevent taxpayers from avoiding full income tax. Donations must be made to registered charities and taxpayers may be asked to provide receipts. Exceeding the limit results in ordinary income tax, and people can donate valuables but must estimate their value accurately. Tax authorities can audit those who claim […]
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