ALL 31 FLAVORS OF QUESTIONS

I love ice cream, and I love answering questions. Here are the 31 most common questions that people ask when shopping for a home mortgage.

Hopefully this will guide you through the process. If you have any additional questions please call me or text me at 509.737.7161

TAX BENEFITS:

WHAT TAX BENEFITS ARE AVAILABLE WITH A HOME MORTGAGE?

Tax benefits are one of the many perks that come along with taking out a mortgage. Homeowners are able to deduct the interest from their mortgages when filing their taxes, which can significantly reduce how much they owe to the government each year. Additionally, homeowners may be eligible for tax credits if they meet certain criteria, such as having an energy-efficient home or making qualifying renovations.

Whether you’re looking to buy your first home or refinance an existing one, there are many factors to consider when weighing your mortgage options. Along with low interest rates and flexible repayment terms, tax benefits are another major benefit that comes with getting a mortgage. So if you’re looking to save money on your taxes while also investing in your property, a mortgage may be right for you.

The biggest tax benefit of a mortgage is that homeowners are able to deduct the interest they pay on their loans from their taxable income each year. For example, if you have a $200,000 mortgage with an interest rate of 5%, you would be able to deduct around $10,000 in interest payments from your annual tax bill. In addition to this deduction, homeowners may also qualify for certain tax credits depending on how energy-efficient their home is or which upgrades and renovations they make to it.

Overall, there are many benefits to taking out a mortgage when buying or refinancing property. Along with low interest rates and flexible repayment terms, the significant tax savings that come along with getting a mortgage can help you save money on your taxes while also investing in your home. So if you’re looking to reduce your tax burden and make the most of your property, a mortgage may be right for you.

If you would like to sit down with me and review your unique situation I would love to help. Give me a call at 509-737-7161 to get an appointment scheduled.

Thanks,

Jeremy Brock NMLS 1170125
Branch Manager Cornerstone First Mortgage
509.737.7161 CELL
jeremy.brock@cfmtg.com