It's a common cycle: you're hit with unexpected bills you can't pay, so you borrow from your next paycheck by taking out a payday loan. But by the time you're paid and pay back the loan plus interest and fees, your paycheck is no longer enough to cover your expenses, so you take out another payday loan, and then another. This cycle can be very difficult to break out of, while also costing you a ton of money—even the fees alone cost an average of $520 per year. [Read More]

FHA loans are government insured home loans. They are backed by the Federal Housing Administration. As a result, lenders are protected from a loss if you can't pay your mortgage. Thus, they are often easier to qualify for than conventional loans. If you think you can't get a conventional home loan, check out if you should consider an FHA loan. People Who Can't Afford a Down Payment When you apply for a conventional home loan, you'll need to put down a 20 percent down payment (20 percent of the total cost of the house) if you don't want to pay mortgage insurance. [Read More]