The U.S. economy may not be growing at a lightning-quick pace, but it is once again able stand on its own feet and move forward, adding to its already world-leading GDP and creating jobs at a fairly steady pace. A growing U.S. economy has a tendency to make consumers feel better about their financial situation. It also tends to boost the desire for home ownership, including consumers who may be considering buying their first home. Although existing home sales are still well below their seasonally adjusted annual rate peak of 7.26 … (0 comments)
free seminar: Reason 10 - Why You Should Own a Home
- 07/13/14 12:28 AM
Don't forget the tax benefits that homeowners are granted. As a renter, your landlord is reaping these benefits. · Mortgage deduction: The tax code allows homeowners to deduct the mortgage interest from their tax obligations. Some closing cost deductions: The first year you buy your home, you are able to claim the points (also called origination fees) on your loan, no matter whether they are paid by you or the seller. · Property tax is deductible: Real estate property taxes paid on your primary residence and a vacation home are fully deductible for income tax purposes. · Tax Deductions on … (2 comments)
Your first home is a significant financial commitment, with your mortgage playing a huge part. For example, you can get a traditional mortgage or you may qualify for a loan backed by the Veterans Administration or the Federal Housing Administration. Since you'll be paying on your mortgage for around 20 to 30 years to come, you'll want to know as much as possible about your options.
Budgeting You must prepare an accurate budget so you know how much you can afford to spend on your monthly mortgage payment. … (1 comments)
“There’s a lot of room for negotiation in the costs of closing and consumers should examine every charge and not hesitate to challenge them and try to bring them down,” says Barry Zigas, director of housing policy at the Consumer Federation of America.
Closing costs can really add up when buying or refinancing, running anywhere from 3 to 6 percent of the price of the property. For example, in 2010 the average closing costs for a $200,000 purchase rose nearly … (98 comments)
free seminar: Number of First Time Home Buyers Increasing
- 12/22/10 10:46 PM
Recent research has suggested that average first time home buyer was more likely than usual to purchase a home in the previous month, in part because of the ever-increasing mortgage rates. Mortgage rates were pretty low in November; from that point on, however, they have been heading upward. At the same time, many a first time home buyer has opted to take the plunge and purchase a home, according to a survey tracking the housing situation. While this may be a case of correlation without causation, it is very possible that potential home buyers are trying to get a decent deal … (0 comments)
free seminar: Entrepreneurs to share success secrets at free conference
- 02/28/10 04:04 AM
The Delaware Emerging Technology Center is offering a free seminar on March 16 about the secrets behind successful entrepreneurships. The seminar is the first in a four-part series where successful entrepreneurs will share the lessons they learned through their businesses. It will be held from 7:30 a.m. to 9:30 a.m. at the Wilmington Club, 1103 Market St., Wilmington. RSVP at delawareetcesss1.eventbrite.com. … (0 comments)
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