Category: Real Estate

Homebuyers are stretching their budgets and mortgage limits to win bidding wars More buyers are stretching their budgets, putting less money down or using adjustable rate loans that offer lower rates. Buyers today need to be not just pre-approved for a mortgage but have a mortgage commitment. Borrowers have more options for low-downpayment loans, options that were not available as recently as just a few years ago. Diana Olick | @DianaOlick Published 11:45 AM ET Tue, 24 April 2018  At…

Homeowners can use this tax loophole — at their own risk Interest on home equity lines of credit used to be deductible on loans up to $100,000, no matter how you spent the money The Tax Cuts and Jobs Act limits this break, making it available only if you use the money to improve your home For now, there is no real way for the IRS to track how you’ve spent the money. Darla Mercado | @darla_mercado Published 11:18 AM…

Lack of Homes on the Market Takes a Toll on First-Time Buyers By Clare Trapasso | Feb 21, 2018 Soaring home prices and the shortage of properties on the market are taking a toll on buyers, particularly first-time buyers. The share of first-time homeowners fell to just 29% of all existing home buyers in January, according to the most recent National Association of Realtors® report. That’s down from 32% in December and 33% in January 2017. “First-time buyers are typically…

Homeowners: Here’s what’s in the tax bill for you by Kathryn Vasel   @KathrynVasel December 17, 2017: 12:17 PM ET Republicans reveal final tax plan details Republicans on Friday unveiled the final version of their tax bill, and it has new restrictions for some homeowners. Senate and House Republicans have reconciled their versions of tax legislation and the final plan shrinks some popular deductions. Lawmakers aim to vote on the bill next week and then send it to President Trump’s…