Mortgage Insurance = Tax Deduction

On December 19, 2014, legislation was passed once again allowing for the tax deductibility of mortgage insurance (MI) premiums for qualified borrowers. The deductibility is effective for purchase and refinance transactions closed after December 31, 2013. MI premiums paid or accrued after December 31, 2013 and through December 31, 2014 may qualify for tax deductibility […]

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everything you need to know about FHA mortgage insurance – psst, there are TWO!

Effective April 18, 2011 FHA Monthly Mortgage Insurance Premium (MIP) Increased By 0.25 to 1.15 Point UFMIP Remained at 1.00 Point FHA Mortgagee Letter 11-10 Current Monthly Mortgage Insurance Premium (MIP) An annual premium, shown below, paid monthly, will charged based on the initial Loan to Value and length of the mortgage according to the […]

Read More everything you need to know about FHA mortgage insurance – psst, there are TWO!

teachers, firefighters, police officers, health care workers loan – is it a good deal or not?

THINK TWICE BEFORE ASSUMING A PROGRAM GEARED SPECIFICALLY FOR A PARTICULAR CLIENT IS THE BEST PROGRAM AVAILABLE TO THEM.  freddie mac has a loan product titled “home possible neighborhood solution” which is geared towards teachers, firefighters, law enforcement officers, health care workers, and military personnel.  there have been several mortgage companies pushing this product, yet very […]

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