which statement is true of both mortgages and auto loans
5. **Loan Closing:**The final stage of the mortgage process involves signing the loan documents and finalizing the transaction.Auto loans are broadly categorized into two main types:
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<h2>Mortgages: The Key to Homeownership</h2>
* **FHA Mortgages:**These mortgages are insured by the Federal Housing Administration (FHA), making them more accessible to borrowers with lower credit scores and smaller down payments.The FHA also provides more lenient qualifying guidelines compared to conventional loans.
* **Conventional Mortgages:** These mortgages are not insured or guaranteed by the government and are typically offered by private lenders. They typically require a larger down payment and a stronger credit score than government-backed loans.
* **Conventional Mortgages:** These mortgages are not insured or guaranteed by the government and are typically offered by private lenders. They typically require a larger down payment and a stronger credit score than government-backed loans.
<h3>4. Refinancing Options</h3>
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