Mortgage and loans
Less than one hour after leaving the inaugural stage, Trump signed an executive order canceling a mortgage insurance reduction which had begun under Obama. The program had provided a roughly $500 reduction for mortgage insurance costs on a $200,000 mortgage. Because of high Silicon Valley home prices, little effect is expected on the Silicon Valley […]
Trump Eliminates Mortgage Insurance Reduction Read More »
The U.S. Government’s Consumer Financial Protection Bureau has recently created a web page you can use to find out current home loan mortgage rates based on location, credit score, and loan amount. This can help you see if the interest rates you are quoted are within the typical range. It can also help you see
Check Your Interest Rate Read More »
I am hearing from some loan agents that mortgage rates fell slightly this last week. Freddie Mac monthly averages showed a jump in rates in June 2013 to 4.07% followed by a slow rise for the following months including a very slight rise in September to an average rate of 4.49% with 7 pts on
Mortgage rates flat? Read More »
The Federal Housing Administration announced that it will raise premiums by 10 basis points, or 0.1%, on most of the new mortgages it insures. A 30-year, fixed-rate mortgage with 5% or more down will now require an annual insurance premium of 1.3% of the outstanding balance. A mortgage with less than 5% down will require a premium of
Mortgage Fees Are Increasing Read More »
Most homeowners are very aware that mortgage interest can often be a deduction from their income taxes. The maximum outstanding mortgage debt for which interest is deductible is $1 million. The maximum outstanding home equity debt for which interest is deductible is $100,000. http://www.irs.gov/publications/p936/ar02.html Deductions for premiums for mortgage insurance (PMI) are not as well
Tax Savings of Home Ownership Read More »
