16
Mar
By Todd Grey
Mortgage, ,

Should You Pay Discount Points When You Get Your Mortgage?

One of the challenges you will face when deciding how much money to put down on your new home is whether to put down a larger down payment or to take a bit of money from your down payment and use it to buy "discount points" to lower your interest rate. There are pros and cons to doing both and each borrowers situation will be different so it's important to understand which option is best for your individual situation. Some factors you should consider include: Cost of borrowing - generally speaking, to lower your interest rate will mean you pay…
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25
Mar
By Todd Grey
Taxes, ,

Tax Deductions Homeowners Can Claim During Tax Season

Even though owning a home comes with some significant expenses, some of them are tax-deductible. With many people looking for ways to lower their income tax, there are a few expenses tied to the house that every homeowner should consider. This could make a significant difference in their final tax bills, and it could lead to a large tax refund. Home Repair Costs There are a lot of people who need to make repairs to their houses during the course of the year. In particular, if you have recently purchased a house, you may need to do a bunch of…
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19
Apr
By support
Real Estate, ,

Best Tax Deductible Home Improvements for Homeowners

Before delving into tax-deductible home improvements, it's important to understand that these tax deductions won't be applied immediately. In most cases, homeowners can only benefit, tax-wise, from their home renovations later, when they sell their home. It's important for homeowners to keep receipts for their improvements, though so they have proof of the improvements they made, even if it's years later when they sell their residence. Typical Renovations/ Home Improvements That Can Yield Eventual Tax Benefits A home improvement is any project that substantially adds value to a home. It can include adapting it to be more useful or be…
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17
Apr
By support
Mortgage, ,

Should You Pay Discount Points When You Get Your Mortgage?

One of the challenges you will face when deciding how much money to put down on your new home is whether to put down a larger down payment or to take a bit of money from your down payment and use it to buy "discount points" to lower your interest rate. There are pros and cons to doing both and each borrowers situation will be different so it's important to understand which option is best for your individual situation. Some factors you should consider include: Cost of borrowing - generally speaking, to lower your interest rate will mean you pay…
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11
Apr
By support
Mortgage, ,

How The 2018 Tax Changes Can Affect Your Mortgage

When the chatter was at its peak on the 2018 tax law changes being proposed, one of the big areas of concern for homeowners was the elimination of the mortgage interest deduction. Right behind that issue was a similar treatment with regards to property tax deductions. As the rumors swirled and Congress moved, many feared both deductions had finally met their day and were going to be entirely eliminated, resulting in a major financial hit that many homeowners and particularly those in high real estate cost states would have felt painfully. As it turned out, there's no reason to panic…
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