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Conforming loans meet standards set by entities like Fannie Mae and Freddie Mac, while non-conforming loans do not. Borrowers can pay discount points upfront to reduce their interest rate, potentially saving money over the loan’s life. Home loan   Escrow Accounts Lenders may require escrow accounts to hold funds for property taxes and insurance, simplifying payment management. Property Taxes and Insurance Monthly mortgage payments often include contributions for property taxes and homeowner’s insurance.