Q&A
Asked by Tony
Answered by Charles Sizemore
CFA in Dallas, TX
CFA in Dallas, TX
Hi Tony,
While I do not expect the
government to eliminate the mortgage
deduction, it should really be a moot point.
If you can only afford the house in question
w...
Q&A
Asked by Katie
Answered by Nic Netherton
Mortgage Professional in Fort Collins, CO
Mortgage Professional in Fort Collins, CO
Two advantages. The first being you pay off
your house faster, the second is that shorter
term loans generally have lower interest rates
than 30 year mortgages.
Q&A
Asked by Gina
It's all about a cost/benefit analysis for
your particular loan, rather than a "refi if
your rate drops by 1%" or other general "rule
of thumb". It may not pay to ref...
Q&A
Asked by Martha
Good question. You may actually gain tax
benefits by renting out a home. You can
deduct some of the same expenses on a rental
property as you do now: property taxes...
Q&A
Asked by Kathleen
Having liquid (cash or cash equivalent) funds
available after closing is always preferable
to tying up your funds in the new home. If
the water heater breaks, the AC ...
Q&A
Asked by Erin
Answered by James Talbot
Mortgage Professional in Metairie, LA
Mortgage Professional in Metairie, LA
Erin,
Yes, thankfully they are. There was
a time just after the market meltdown when
they weren’t but eventually the market eased
up and started allowing them agai...
Q&A
Asked by Katie
Answered by Dimitrios Gikas
Mortgage Professional in Westlake, OH
Mortgage Professional in Westlake, OH
This depends on a couple of factors.
One:
Is the tax bracket you are in, can you deduct
the mortgage interest if you got a
mortgage?
Two: What rate of return ca...
Q&A
Asked by Joseph
Hi Joseph. There's several areas to consider
here. Was this home listed on the MLS? Did
you have a buyers' agent, and if so, did
he/she do a CMA (Comparable Market ...
Q&A
Asked by Michael
Answered by Dimitrios Gikas
Mortgage Professional in Westlake, OH
Mortgage Professional in Westlake, OH
The fixed or adjustable question depends on
your goals and risk tolerance. A big
question to answer is: "How long will you live
in the house?" If you know goin...
Q&A
Asked by Erin
It's important to realize the distinction
between a mortgage lender/bank and a mortgage
broker. Brokers write loans, send to the
actual lenders for approval (in most ...
Ask a pro a question
Have your question answered by a professional