PMI Payments Deductible for 2007 Purchases

By
Real Estate Agent with Success Real Estate in Quincy
 

PMI BECOMES DEDUCTIBLE IN 2007

A new tax change that makes private mortgage insurance deductible may help some low- and moderate-income buyers purchase homes this year. Borrowers closing loans for home purchases in 2007, who have annual household incomes of $100,000 or less, will be able to get a low down payment mortgage and deduct the full cost of their mortgage insurance premiums on their federal tax returns. The deduction is set to expire at the end of 2007, unless Congress opts to extend it.

Posted by

Dana Schatzl, Realtor

617-750-8016

Success Real Estate

Web Site: www.SouthShoreDreamHomes.com

Blog: http://BreakingQuincyHousingNews.com

E-Mail: QuincyHomes@gmail.com

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