What counts as mortgage interest and how do I calculate it?
When an individual takes out a loan from a financial institution or establishment in order to fully or help fund the purchase of land or a residential building for the purpose of primary or secondary residency, this is known as ...
Does the IRS consider interest on a home equity line of credit deductible as a second mo...
The home equity line of credit of an individual is considered to be deductible as a second mortgage for many people, but there are a number of considerations that need to be adhered to before the individual can actually deduct t...
What documents do I need in order to deduct mortgage interest?
Many people are aware of how difficult it can be to perform normal tax processes when April comes around each year. On top of this, the more physical properties or complications an individual has in their life, the less simple ...
How do I deduct points on 30 year mortgage?
In certain cases, the amount of interest that an individual pays up front on their home loan or other form of mortgage is known as 'points' in relation to the mortgage. Since the interest of a mortgage is tax deductible up to a...
When the lenders are being tight-fisted you can still get the best mortgage rates
It seems that everyone, even those of us who have never had a blemish on our credit records, is being hurt by the recent economic and housing fallout. Lenders are tightening up their lending and it may seem next to impossible t...
Magic Ball, When Will Mortgage Rates Fall?
Wouldn't it be nice if we could just get out our magic ball and see when mortgage rates were going to fall? Unfortunately, the technology to do that just hasn't been developed yet, so in the meantime we have to rely on doing ou...
Choosing the Best Mortgage - What's Right for Me?
15-year or 30-year? Fixed or adjustable? Coke or Pepsi? Ok, so maybe that last one has nothing to do with buying a home, but there are a lot of important questions you have to ask yourself when thinking about taking out a mor...
When Interest Rates only tell Part of the Story - Understanding Points
When home buyers are looking for a new mortgage, or going to refinance an existing one, they typically pay close attention to the interest rate associated with it. While the interest rate is one of the most important pieces of ...
Mortgage Rates - The Benefits of Refinancing
So you've lived in your home for some time now and have been content mailing off your mortgage payment every month. Yet when you turn on the nightly news you see that mortgage rates are 1% lower than what you locked into 10 or ...
Tips for Locking In the Lowest Mortgage Rate
Whether you are a first time home buyer, or you have been purchasing real estate for years, one of your main goals other than finding the perfect piece of property is to make sure that your mortgage rate is as low as possible. ...
Now or Later? Taking Advantage of Mortgage Rates
Have you ever heard the story of the guy who always held out until tomorrow because he was certain mortgage rates were going to go lower? He waited his entire life and ended up dying with plenty of money, but living in an apart...
Adjustable Rate Mortgages: When They Are the Right Mortgage
Most of us are familiar with tradition rate mortgages. We borrow a fixed amount of money for 15 to 30 y ears and we agree to pay it back at a given interest rate over the life of the loan. Our payments are the same amount eve...
Ten Mistakes And How They Can Affect Your Mortgage
Wouldn't it be great if everything in life came with a checklist? Unfortunately, for most of us we have to learn life's lessons the hard way - by experiencing them! Fortunately, for home buyers there are some rules of the game...
Negotiation - The Mortgage Borrowers Best Tool
Remember when you bought your first used car? Chances are you were young and used a fair bit of negotiation to get the price to where you thought you were getting a good deal. The years may have went by and you are a bit older...
It's Never Too Late to Get a Better Rate on Your Mortgage
Perhaps you are a first time homebuyer, or maybe you have been in your current mortgage for years; whatever the case may be you should realize that it is never too late to get a better rate on your mortgage. Many people believe...
Thinking of Making Home Improvements? Refinancing May Be the Answer!
The kitchen that looks like it came straight out of a 1960s magazine; The front porch that is slowly pulling away from the house; the garage door that closes - 50% of the time. As a homeowner you know that as the years go by yo...
Refinance Now To Save Thousands on Your Mortgage
Death and taxes - two things you know are for certain in life. However, there is a third that is almost nearly as certain as those two - fluctuating interest rates. With a home mortgage being one of the largest purchases you w...
Facing A Major Increase in Your Mortgage Payment? It May Be Time To Refinance
Facing A Major Increase in Your Mortgage Payment? It May Be Time To Refinance Many of us are facing increasing mortgage payments in the months and years ahead because of adjustable rate mortgages (ARM) that are beginning to adj...
Understanding Points in Home Mortgages
If you are in the market for a mortgage to buy a house you've no doubt heard the term "points" being thrown about. No, they aren't talking about the score from last night's NFL game; they are actually talking about a fee that i...
Understanding FHA Loans
If you are looking to buy your first home, then you owe it to yourself to check out the loans offered by the Federal Housing Administration (FHA). These loans can offer significant benefits designed to help you achieve the dre...
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