The mortgage interest deduction allows homeowners to deduct a portion of their home loan interest from taxable income. The deduction applies to secured debts with the property as collateral, including government-backed loans. The amount deductible depends on the mortgage date and can be claimed by itemizing tax returns. Continue to full article
Is It Easier To Find a Home To Buy Now?
One of the biggest hurdles buyers have faced over the past few years has been a lack of homes available for sale. But that’s starting to change. The graph below uses the latest data from Realtor.com to show there are more homes on the market in 2024 than there have been in any of the past several years (2021-2023): Does That Mean Finding a Home Is Easier? The answer is…
Single Women Are Embracing Homeownership
In today’s housing market, more and more single women are becoming homeowners. According to data from the National Association of Realtors (NAR), 19% of all homebuyers are single women, while only 10% are single men. If you’re a single woman trying to buy your first home, this should be encouraging. It means other people are making their dreams a reality – so you can too. Why Homeownership Matters to So…
What’s the Latest with Mortgage Rates?
Recent headlines may leave you wondering what’s next for mortgage rates. Maybe you’d previously heard there were going to be cuts this year that would bring rates down. That refers to the Federal Reserve (the Fed) and what they do to their Fed Funds Rate. While cutting, or lowering, the Fed Funds Rate doesn’t directly determine mortgage rates, it does tend to impact them. But when the Fed met last…
https://linktr.ee/hsrdallas | Buyer vs Seller Incentives for Home Warranties in 2024
Home warranties are available for both home buyers and sellers, offering coverage for systems and appliances. Buyers can get a warranty through agents or providers, providing peace of mind and potentially sweetening the deal.
What Every Homebuyer Should Know About Closing Costs
Before making the decision to buy a home, it’s important to plan for all the costs you’ll be responsible for. While you’re busy saving for the down payment, don’t forget you’ll want to prep for closing costs too. Here’s some helpful information on what those costs are and how much you should budget for them. What Are Closing Costs? A recent article from Bankrate explains: “Closing costs are the fees…
https://linktr.ee/hsrdallas | What’s Inside a Mortgage Note?
Legal Agreement: It's a contract between borrower and lender. Terms and Conditions: Includes repayment details, interest rate, and foreclosure rights.
https://linktr.ee/hsrdallas | Benefits of Being a 2024 First-Time Home Buyer
Benefits include: – Low down payments – Credit-score flexibility – Grants & home-purchase assistance Qualifications: – Never owning a single-family home – Not owning a home in the last 3-yr – Displaced homemaker/single parent
https://linktr.ee/hsrdallas | Here’s How Much Money You Need to Make to Afford a Home
Americans now need an annual income of ~$106,500 to comfortably afford a typical home, a significant increase from $59,000 in 2020.Home ownership is considered affordable if housing costs, including mortgage payments, are no more than 30% of pre-tax income.