Financing a Home

More in Financing a Home

Can You Roll Closing Costs Into an FHA Loan?

Closing fees add on to the cost of a loan when you buy a home or refinance your existing mortgage. Whether or not you can roll your closing costs into an FHA loan depends on certain factors. As a rule, it doesn’t matter if you are applying for an original mortgage loan or ...

How to Get Your Name Off a Mortgage That You Cosigned For

If a mortgage lender denies your child or family member's mortgage application, you might step in as cosigner on the loan. A cosigner agrees to pay another person's debt in the event of default. Your name might not appear on the title, but it appears on the loan. Becoming a ...

Do You Get All Your Interest on Your Mortgage Back on Taxes?

For most homeowners, mortgage interest is their biggest tax deduction and getting a home loan allows a home buyer to make the shift from the standard tax deduction to itemized deductions. You do not get all of your mortgage interest back on your tax return. The amount of tax ...

Does a Non-Working Spouse's Credit Affect a Home Loan?

Marriage doesn't require that both spouses apply for loans together, although with large purchases such as a home, they often want to do so. If one spouse has no job or negligible or bad credit, it often makes more sense for the other to apply for a home loan on his own. The ...

What Is the Difference Between Assessed Value & Taxable Value of Real Estate?

The market value, assessed value and taxable value of your house are often nothing alike. The market value is what your house would sell for in the current market. The assessed value is what your county tax assessor reports the house is worth for purposes of calculating your ...

Documentation Needed to Claim Mortgage Interest as a Tax Deduction for an Owner-Financed Home

The mortgage interest deduction is one of the largest tax deductions for most U.S. taxpayers. According to the National Association of Homebuilders, 80 percent of the mortgage interest paid by U.S. taxpayers since 2000 has been claimed as a deduction on taxes. The IRS allows you ...

Can a Homeowner Refinance a Privately Held Note?

A privately held note secured by real property, also referred to as a "hard money" loan or mortgage, is fundamentally no different than a standard bank mortgage. The interest rate is usually higher, but other characteristics – such as monthly payment and ...

Does It Make a Difference Who Is the Buyer or Co-Buyer for Financing?

It seldom makes a difference who the buyer or co-buyer is when you finance a home, but you might still face some challenges with lenders. If both you and the co-buyer will occupy the home, signing the mortgage and the loan note, you should have no problems. If the co-buyer will ...

Can I Get a Home Improvement Loan With an Owner-Financed House?

When faced with stringent underwriting criteria used by many major lending institutions, some borrowers turn to owner-financing for real estate purchases. In this arrangement, the seller releasing the home provides the funds necessary for the new homeowner to purchase the house. ...

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