Random Thoughts

For Buyers

Find The Home Loan That Fits Your Needs

February 10th, 2015 Categories: For Buyers, Random Thoughts

Understand which mortgage loan is best for you so your budget isn’t stretched too thin.

It’s easier to settle happily into your new home if you’re confident you can afford it. Here’s what you need to know about your mortgage financing options, including how to choose the loan that matches your income and tolerance for risk.

Mortgage Financing Basics

The most important features of your mortgage loan are: Read the rest of this entry »

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Are Mortgage Points Tax Deductible?

February 5th, 2015 Categories: For Buyers, Random Thoughts

When you took out a mortgage to buy your home, did you pay points? You may be able to deduct that prepaid interest on your federal tax return — but only if you meet a long list of rules.

The points you paid when you signed a mortgage to buy your home may help cut your federal tax bill. With points, sometimes called loan origination points or discount points, you make an upfront payment to get a particular rate from the lender.

Since mortgage interest is deductible, your points may be, too.

If you itemize your deductions on Schedule A of IRS Form 1040, you may be able to deduct all your points in the year you pay them. Read the rest of this entry »

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7 Steps To A Stress-Free Home Closing

February 3rd, 2015 Categories: For Buyers, Random Thoughts

This cheat sheet helps you do your homework, so you know what you’re signing when you close the sale of your home.

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Negotiate Your Best House Buy

January 22nd, 2015 Categories: For Buyers, Random Thoughts

Buying a home can be emotional, but negotiating the price shouldn’t be. The key to saving money when purchasing a home is sticking to a plan during the turbulence of high-stakes negotiations. A real estate agent who represents you can guide you and offer you advice, but you are the one who must make the final decision during each round of offers and counter offers. Read the rest of this entry »

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How to Assess the Real Cost of a Fixer-Upper House

January 19th, 2015 Categories: For Buyers, Random Thoughts

Trying to decide whether to buy a fixer-upper house? Follow these seven steps, and you’ll know how much you can afford, how much to offer, and whether a fixer-upper house is right for you. Read the rest of this entry »

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8 Tips for Finding Your New Home

January 8th, 2015 Categories: For Buyers, Random Thoughts

House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you’ll zoom in on the home you want at the best price. These eight tips will guide you through a smart homebuying process. Read the rest of this entry »

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