Homeowners, excited about lowering their mortgage rate by refinancing, have a tendency to ignore the costs because they are rolled into their new mortgage. If there’s no money out of pocket and the payment is lower than what they’re paying, it often seems like a good deal.
Available to homeowners is the Mortgage Interest Deduction for up to $1,000,000 of acquisition debt on both their first and second home. If they have Home Equity debt they can also deduct interest on up to an additional $100,000. Home Equity Debt can be used for any purpose such as educational or medical expenses, buying […]
During the recession, some homeowners were not able to sell and chose to rent their homes instead. These homeowners did not need to sell their home at the depressed prices and opted to rent it until the market recovered.
Boomerang buyers will account for approximately 10% of the home purchasing market in 2013.
Having low mortgage interest rates can be a drawback if the total interest and property taxes paid are below the amount paid for a standard deduction. If you plan a little you may be able to improve your situation at least every other year. Anyone that keeps tabs on their taxes knows that you can […]
Everyone knows that if you pre-pay your mortgage you can save a lot of money in interest and you will also build equity faster. Even though mortgage rates are low right now, they are still higher than what you can earn in a savings account. If you have a little extra money, then pre-paying your […]
People have gotten used to staying comfortable in their homes. Your air conditioning and heating system are the “comfort systems” for your home. If you have ever had problems with these on a hot summer day or a cold winter night, you know how uncomfortable you can be. These are also great tips […]
Thoughts and choices If you are trying to decide to take standard tax deduction or itemize when filing your income tax return, you need to look at what gives you the highest return. Most people that make over $75,000 a year itemize their deductions, but with lower interest rates is this wise? For […]
When you are saying that the Fairfax VA Real Estate market has a low inventory it depends on what you are comparing it too. Are you comparing it to the number of total homes that were on the market last year at the same time? Are you comparing it to homes in a price range? […]
Should I refinance? That is a question home owners often ask themselves as the mortgage rates dip. Here we provide you with a bit of advice about the subject.
