75 Million Americans use the mortgage interest deduction to lower their tax obligations to the U.S. Government. It is the most widely used tax deduction in America and now Obama’s deficit commission is considering eliminating this option for all homeowners. The National Association of Realtors (NAR) is pushing hard to stop this proposal before it [...]
Tag Archives | Mortgage Insurance
Understanding the FHA Mortgage Insurance Premium (MIP)
* Disclaimer – all information in this article is accurate as of the date this article was written * The FHA Mortgage Insurance Premium is an important part of every FHA loan. There are actually two types of Mortgage Insurance Premiums associated with FHA loans: 1. Up Front Mortgage Insurance Premium (UFMIP) – financed into [...]
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Why Do I Need To Pay A VA Funding Fee?
The VA Funding Fee is an essential component of the VA home loan program, and is a requirement of any Veteran taking advantage of this zero down payment government loan program. This fee ranges from 1.25% to 3.3% of the loan amount, depending upon the circumstances. On a $150,000 loan that’s an additional $1,875 to [...]
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