Looking to Renovate?

Looking to Renovate?

Explore These Options to Finance.

Whether you are looking to freshen up or expand your existing home or a new home you are considering purchasing, the question always comes up about how to pay for this. The answer to this question depends somewhat on how much you are talking about financing and how long you believe it will take you to repay. Let’s take them one at a time. If you are trying to renovate the home you ...

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Recasting Your Mortgage

Recasting Your Mortgage

In this market, it is challenging to make a move if you must utilize the equity from the sale of your existing home for the down payment on a new home. Most Sellers will not accept an offer that is contingent on the successful closing of your existing property. But there is simple solution. Assuming you can qualify for both mortgage payments, and you have a 3 – 5% down payment for a conventional loan, you ...

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Private Mortgage Insurance Is Tax Deductible for 2007

New Law passes for 2007
If you obtain a new home loan with PMI (private mortgage insurance) in 2007, you might be able to deduct the cost of the insurance on your 2007 tax return. The rules are just as complicated as most other tax laws, so you should consult a CPA for guidance.

What is PMI?
It protects the lender from the risk that you might default on your home mortgage. As the borrower, you pay the PMI premiums. PMI ...

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