property taxes: Northwest Indiana Real Estate: Save Money When You Buy A Home
- 02/17/07 04:49 PM
Purchasing a home in Northwest Indiana can save you money very quickly. FIRST, you'll save on taxes because the interest on your home mortgage is tax deductible. If you rent, your landlord gets the break. SECOND, you'll save on interest payments while keeping the great tax advantage. For example if you are paying $900 per month in rent, you are paying a portion of this towards your landlord's property taxes and mortgage loan interest. Your landlord can write this amount off. You derive absolutely no tax break. When you own a home, you now reduce your taxes for the mortgage interest and for … (0 comments)
property taxes: Northwest Indiana Real Estate: Understanding Closing Costs
- 02/17/07 04:47 PM
Here is an overview of the types of closing costs you may incur on your loan when you buy real estate in Northwest Indiana. Some are one-time fees, while others reoccur over the life of the loan. When you apply for your loan, you will receive a Good Faith Estimate of Settlement Charges, and a booklet that will explain these costs in detail. Loan Origination Fee: This fee covers the lender's administrative costs in processing the loan. It is a one-time fee, often expressed as a percentage of the loan. The origination fee is typically 1% of the loan, but remember, you … (0 comments)
Purchasing a home in Northwest Indiana can save you money very quickly. FIRST, you'll save on taxes because the interest on your home mortgage is tax deductible. If you rent, your landlord gets the break.
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