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If you are currently renting an apartment it may feel like
you’re throwing money away each month as you send a check
off to the landlord. All that money gone with really nothing
to show for it. In fact, you may have spent money painting
your apartment or otherwise improving it only to have the
landlord raise the rent!
There is an alternative, the "American Dream,"
a home of your own. Obtaining that first home is not as difficult
as you might think. Lenders are looking to give mortgages
and offer different programs designed to fit almost any need.
"Uncle Sam" wants you to invest in your future and
provides tax incentives to help make it possible. Diana Clark
is available to provide you with the information you need
and answer the questions you’ll have. She’ll take
you step-by-step through the entire buying process from the
day you begin searching for that perfect property, to the
moment you receive the keys to your very own front door. In
the meantime, here are some facts you should know that may
very well help you out of that apartment and into your very
own "castle."
DOWN PAYMENTS
There are mortgage plans available that help you purchase
a home with little or no money down. Also, there are new sources
of down payment money. You may use, penalty free, withdrawals
from traditional IRA or new "Roth IRS Plus" to help
with the purchase of a new home. The withdrawal may come from
buyer’s own account, spouse’s account, or a parent
or grandparent. Of course, other sources of down payment funds
remain available such as gifted money from parents and relatives.
MORE GOOD NEWS... TAX DEDUCTIONS
- Buyers can deduct interest on mortgage payments.
- Buyers can deduct points paid at settlement by either
buyers or sellers.
- Buyers can deduct real property taxes.
- Buyers can deduct mortgage interest and property taxes
on a vacation home.
- Buyers can deduct moving expenses if they move because
of a new job or job transfer.
- Home offices can be another source of tax deductions.
All in all, buying a home has become simpler and less costly.
So, what are you waiting for? Please contact
Diana for further information or a consultation without
obligation.
Disclaimer: This information is believed
to be accurate but is not guaranteed. To verify this information
I recommend you check with a CPA, accountant or tax preparer.
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