Learning All About Loan Options

When you're already strapped for cash, the idea of taking out a loan – and in the process, incurring another bill that you'll have to pay back – can seem counterintuitive. It doesn't help that there are a myriad of negative myths that surround the fastest and easiest short term loan option – payday loans. These quick cash loans are regularly characterized as overly expensive, difficult to repay, and even predatory.

If you are getting ready to purchase your first new home, you may want to look into several different types of loans. Two options you have are USDA loans and conventional loans, and here are five of the differences between these two types. Terms A USDA loan is one that is offered through the U.S. Department of Agriculture Rural Development. USDA loans are backed by the U.S. government, and this means that the government will pay off your lender if you default on the loan.