Mortgages

More in Mortgages

Do Mortgage Borrowers Have to Be on the Title Deed?

Legally, at least one borrower must be on the title deed to qualify for a mortgage loan. However, most mortgage lenders prefer that all borrowers appear on the title. For those mortgage programs that permit non-occupant borrowers, this lender preference is typically waived. ...

How Much of a Tax Deduction Do You Get Back on Home Loan Interest?

The home mortgage interest deduction is a major tax break for homeowners and is among the oldest of income-tax deductions. It was included in the original Income Tax Act of 1913 as a way to encourage homeownership, and survived the 1986 tax act that eliminated most other ...

Can I Claim My Parents House if I Pay the Mortgage?

Not all good deeds lead to punishment. If done correctly, paying your parents' mortgage is an example of this. As long as the mortgage meets conditions imposed by the Internal Revenue Service, you can claim the interest you pay as a deduction on your taxes if you have ownership ...

Can I Pay Home Insurance Directly and Not With Escrow?

If you're considering a new mortgage or shopping around for insurance, you might wonder whether you can pay your homeowner's insurance premiums directly without using a mortgage escrow account. The answer often depends upon your situation, but even when you can pay your own ...

How to Use a 401(k) as a Reserve for a Mortgage

When you secure a mortgage for a personal residence or investment property, your lender will require a large amount of personal information, including your credit report and history, your employment information and the value of your assets – specifically your liquid assets. ...

How to Get a Refund of Mortgage Insurance Premiums

Mortgage insurance is designed to protect the financial interests of lenders and mortgage investors in the event that you default on your loan. Typically, you pay for the insurance with an upfront premium and monthly charges that form part of your mortgage payment. In some ...

Can You Claim Rental Mortgage Interest as an Itemized Deduction?

Single-family homes and small apartments or office buildings are popular investment vehicles for small investors. Many people consider owning rental houses not much different than owning their own home. Like owning a home, mortgage payments that finance the purchase of a rental ...

What Is a Shortage in My Mortgage?

When you obtain a mortgage, you sign documents that list your monthly principal and interest payments. However, if your lender pays your property taxes and homeowner's insurance, you will pay additional money each month into an escrow account. When the term "shortage" is used in ...

How Do Equity Accelerators Work?

The majority of Americans use 30-year mortgages to finance the purchase of their primary residence. With a 30-year mortgage, the overwhelming majority of the monthly payment goes toward interest. After five years, the typical 30-year loan still has 97 percent of the principal ...

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