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Mortgage Interest Tax Deductions
Your Mortgage Interest Deductions
Under the current tax code, mortgage interest on first and second homes is generally deductible as long as these loans total less than $1.1 million, making homeownership one of the best ways to trim your tax bill. The examples below illustrate how the mortgage income tax deduction affects the after-tax homeownership.
Date: 2010-05-11 17:14:09
Related topics : home equity interest deduction limit / interest car loan tax deductible / interest home equity loan deductible / interest home equity loan tax deductible / interest on home equity loans is tax deductible for consumers
Extra Payment Calculator - Amortization Schedule
If your current rate on a 30-year fixed loan is 7.000%, would you like to see if you can get it lower ?
Term of the loan: 30 Years | Loan amount: $100,000.00 | Interest rate: 7.000%
National Monthly Average Mortgage Rates * 2014
Source: (1) Freddie Mac, (2) HSH Associates, (3) Federal Housing Finance Board
(1) Federal Home Loan Mortgage Corporation's (Freddie Mac) Weekly Primary Mortgage Market Survey (PMMS), Monthly Average Values. National average rates on conventional, conforming, 30- and 15-year fixed and 1-Year CMT-indexed adjustable rate mortgages. Starting from January 2005, 5/1 hybrid ARM rates are available.
Each week Freddie Mac surveys 125 lenders and the mix of lender types (thrifts, commercial banks...
Managing Your Mortgage: What To Do When You Default On ...
Acquiring your first home, or a larger one to meet growing family needs, usually focuses all of your attention on accumulating the down payment and qualifying for the financing on the property you have selected. There is a sense of relief when the loan is finally closed and you have settled in the house. It will not take long, however, before you will have to face the financial...
Date: 2010-05-11 17:16:45
Loan Application Checklist - Mortgage-X
This is a list of documents most lenders will require in order to process your mortgage application.
Verification of income
Earnings statements: W-2 forms, recent pay stubs and tax returns for the past two years;
If you are self-employed: profit and loss statements and tax returns for current year and previous two years;
Additional income: social security, overtime bonus, commission, interest income, veteran's benefits and so on.
Verification of your assets
List of bank account numbers, the address of your bank branch, checking and savings account statements for the previous 2-3 months;
List of savings bonds, stocks or investments and their...
Date: 2013-02-12 15:04:54
Biweekly Payment – Mortgage Calculator
Interest Rate Trends
Biweekly Payment Calculator
The calculator will show you how much you will save if you make 1/2 of your mortgage payment every two weeks instead of...
Mortgage Rate Trend Survey ~ Will Mortgage Rates Rise or Fall?
The Mortgage Rate Trend Survey summarizes where mortgage professionals think mortgage rates are headed in the future. To conduct this survey, Mortgage-X asks more than 250 experts in the mortgage field about their expectations for the mortgage market.
Over the next 30 days:
Over the next 90 days:
rates will rise significantly: 0.0%
rates will rise significantly: 6.9%
rates will rise slightly:...
Mortgage Calculators: Amortization Tables, Loan Balance ...
Would you like to see amortization tables for your loan?
Yes, but only yearly amortization table.The interest and principal
paid during the year, the remaining...
Date: 2014-03-13 20:36:01
Loan Documentation Requirements: Easy Doc, No Doc Loans
Full Doc, Easy Doc and No Doc Loans
Full Doc Loans
With this kind of loan all income and assets are documented.
Income is documented using paystubs and W-2s for salaried borrowers. Self-employed borrowers use federal tax returns to verify income. The Loan Application Checklist covers most supporting documents you and any co-borrower will need to supply. Once you apply, a lender provides you with...
Date: 2010-05-13 17:01:43