Deciding when to buy a house is probably one of the toughest decisions that you will make. For most families, home ownership is probably on top of the family’s wish list and coming close to that reality may bring anxiety. The following are a few of our articles related to home buying that you can [...]
Need A Down Payment For Your House? Your City or County May Have Free Money For You
By
Most bank are requiring you to put in a down payment when buying a home. Gone are those days where you can get zero down payment or borrow second mortgages as your down payment if you are obtaining conventional mortgages. Nowadays, it’s either you saved up for it, borrow from your retirement funds (401k, IRA, [...]
My Sister Just Bought A Newly Built Home: The Good and The Bad
By
My sister just bought the newly built home three weeks ago. I know that she always wanted to buy a new one so she has flexibility when making customization on the house. So this past weekend, my nieces and nephew stayed in our apartment so that my sister and her husband have some breathing room as [...]
List of Mortgage Certificate Program By State
By
On my previous post, I talked about the mortgage credit certificate program: what it is, how it works, and what are the requirement to qualify. Each state or local agencies have their own eligibility and requirements. The amounts may vary as well so it is best to visit the city, county, or state that you [...]
Mortgage Credit Certificate (MCC): Home Buyers Tax Credit
By
Before the first-time home buyer’s credit program came out, one home buyers tax credit that has been around for quite some time is the mortgage interest credit (MCC). The first-time home buyer’s credit is only good for tax years 2008 to 2010 but it offers a much higher one-time home buyers tax credit worth as [...]
7 Homeownership Related Tax Credit and Deductions
By
One of the biggest advantage of home ownership versus renting is that there are a lot of financial benefits including numerous tax breaks available to the homeowners that are not available to renters. Most renters can only claim the standard deduction since they may not have enough expenses to itemize. When you become a homeowner, [...]
Tax Break For Homeowners Selling Their House
By
Homeownership is still considered as one of the American dream as most of us really wants to have a piece of America. Aside for the emotional benefit of homeownership, it has a built in various financial benefits that you can never achieve if you are just renting. One of the most common financial benefit are the [...]
Claiming Mortgage Interest Credit On Your Tax Return
By
If you think that there are no more tax credit for first time home buyer’s credit, think again!! One tax credit that has been around since 1984 but has been overlooked by most home buyer is the mortgage credit certificate program or simply called MCC. However, this is not a program administered by the IRS [...]
Claiming The Residential Energy Credits
By
As a homeowner, being energy efficient pays off a lot when it comes to reducing your monthly electric or gas bills. In addition, you are also helping the environment in reducing deadly emissions in the air so it does provide double benefit. However, purchasing these equipment may be too costly and the break-even point (the [...]
Schedule A: Interest Expense You Can Deduct
By
Interest expense is the amount of money you pay for the use of borrowed funds. Certain types of interest expense may be deductible depending on where you use those borrowed money. Most consumers have various debts such as home mortgage debt, auto loans, credit card balances, student loans, business loans, and investment loans. Most of [...]
Follow Us!