Financing a Home

More in Financing a Home

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

e 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 ...

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

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?

r 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 ...

Is it Wise or Smart to Refinance With the Same Company or Bank?

financing your mortgage loan is a perfect way to reduce your current mortgage rate and save money each month. A refinanced mortgage creates a new home loan with new terms. You can extend the length of your mortgage, reduce the length of your mortgage or apply for a different ...

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

rriage 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 ...

Can You Roll Closing Costs Into an FHA Loan?

osing 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 an ...

Pros & Cons of Selling a Home on a Land Contract

land contract, also known as a contract for deed, is an arrangement in which you finance the buyer's purchase yourself instead of having the buyer rely on a third-party lender. In addition, you keep legal title to the property until the buyer pays the final installment. Land ...

VA Appraisal Guidelines

you're applying for a mortgage backed by the U.S. Department of Veterans Affairs, you must get an appraisal of the home before the loan can close. The appraisal value must be for at least as much as the loan you are requesting. This ensures that the VA will be able to recover ...

Things to Remember When Getting a Home Appraisal

nding a buyer for your property does not guarantee a sale. Before the buyer closes on the loan, a home appraiser will need to pay a visit. The appraiser assesses your property's value, and as a rule, the home's sale price cannot exceed the appraised value. The appraisal process ...

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