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Morgan Minutes: Mortgage Insurance Tax Deductions
In this week's Morgan Minute, Joel Morgan discusses recent changes in how mortgage insurance premiums qualify as tax deductions. For other great information on your options, be sure to join in the conversation! Subscribe to our YouTube Channel, follow us on Facebook and Twitter, and share in the fun on Pinterest!
Options Financial DBA of American Pacific Mortgage Corporation. NMLS 309418 | 829593 | 1850
Mortgage, refinance, HELOC, Home, equity, Loan, home equity, line of credit, Morgan...
From: Options Financial Residential Mortgage
Related topics : line of credit home equity loan rates / home equity loan bad credit lenders / home va loans interest rates / bank loan interest rates / short sale homes
home equity loans
A consumer loan secured by a second mortgage, allowing home owners to borrow against their equity in the home. The loan is based on the difference between the homeowner's equity and the home's current market value. The mortgage also provides collateral for an asset-backed security issued by the lender and sometimes tax deductible interest payments for the borrower
From: home equity loans
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What is a home equity line of credit?
http://www.lawinfo.com/real-estate.html - A home equity line of credit allows a home owner to borrow sums of money from the lender. The lender agrees to lend a maximum amount within an agreed period and the borrower uses the loan as a line of credit, pulling from it when needed. In many ways this is similar to a credit card. You are assigned a specified credit limit that you may borrow up to. A home equity line of credit often has a draw period of 5 to 25 years, allowing you access the funds...
From: lawinfo
Related topics : line of credit home equity loan / line of credit loans near me / real estate homes
Points or Loan Origination Fees
Points (or in other words, loan origination fees) paid to acquire or improve your principal residence are fully deductible in the year paid. However, points paid to refinance your mortgage for a better interest rate, or to obtain a home equity loan, or acquire a second residence are deductible over the life of the loan.
From: FreeTaxUSA
Related topics : interest rate home equity loan / home equity loan refinance rates