Posts tagged ‘dollar’

Buy the Aventura Real Estate Home of Your Dreams by Saving Now

By imal, 26 February, 2010, No Comment

We all know that in order to afford a home, that is, through a mortgage instead of upfront cash, we need to come up with the down payment. A good ballpark figure is somewhere around 20 percent of the total home value. This is also true when you’re planning to buy an Aventura real estate property. But the down payment is hardly the only cost you need to save up for. Remember that when you’re saving up for a home, add a little extra financial cushion to cover those other equally important expenses.

When you’re planning to buy an Aventura real estate property, you have to add several other fees to your list of saving-musts. For starters, you need to get ready for the appraisal fee. The appraisal fee often comes out of the buyer’s pocket. There is no way of escaping this one because lenders will require this during the loan proce

Successfully Close on Fort Lauderdale Real Estate Home Even in a Down Market

By imal, 26 February, 2010, No Comment

There is no denying that the economy has been feeling down in the dumps for the past years. The real estate industry is probably one of the hard-hit sectors, causing interest rates to plummet, mortgage qualifications to become stringent, and homes to be affordable. The third may be advantages for homebuyers. Sellers, however, especially those selling a Fort Lauderdale real estate property, are feeling the onus of the market downtrend.

Fortunately, there are several helpful ways to successfully reach closing on your Fort Lauderdale real estate home. Here are some examples.

Choose time over money

One of the worst nightmares home sellers can face in this down market trend is a stale home. In order to decrease the risk of your Fort Lauderdale real estate property from not getting a

Fully deductible interest in mortgages

By imal, 16 January, 2010, No Comment

In most cases, you can deduct all of your home mortgage interest. How much you can deduct depends on the date of the mortgage, the amount of the mortgage, and how you use the mortgage proceeds. If all of your mortgages fit into one or more of the following three categories at all times during the year, you can deduct all of the interest on those mortgages. (If any one mortgage fits into more than one category, add the debt that fits in each category to your other debt in the same category). The three categories are as follows.

1. Mortgages you took out on or before October 13, 1987 (called grandfathered debt).

2. Mortgages you took out after October 13, 1987, to buy, build, or improve your home (called home acquisition debt), but only if throughout 2009 these mortgages plus any grandfathered debt totaled $1 million or less ($500,000 or less if married filing separately).

3. Mortgages you took out after October 13, 1987, other than to buy, build, or improve your home (called home equity debt), but only if throughout 2009 these mortgages totaled $100,000 or less ($50,000 or less if married filing separately) and totaled no more than the fair market value of your home reduced by (1) and (2). The dollar limits for the second and third categories apply to the combined mortgages on your main home and second home.