The deadline for filing taxes is right around the corner and so today we are going to discuss some of the common questions that come up for homeowners regarding home and taxes.
Please keep in mind this Q&A is only meant to provide you information and steer you in the right direction. Consult with your tax professional or real estate law professional if you are unsure about anything.
Q. If I spent a lot of money fixing up my home, what can I claim as a deduction? A. Odds are, you can’t deduct expenses incurred doing minor repairs to the home. However, if you made significant improvements ( i.e. new windows, new roof, new heating and air, etc. ) hold on to your receipts and ask your tax professional what to do w if you can make any adjustments to the home’s basis.
Did you know there are different types of mortgage lenders for the various types of mortgage clients? It’s true. When it comes to acquiring high-end properties, commercial building or investing in new business ventures, the “one-size-fits-all” mortgage lender simply won’t do. A good rule thumb is the larger the purchase, the more specialized the expertise of the Mortgage Broker should have in Wisconsin's top real estate markets.
5 Things you Probably Didn’t Know about Buying a Duplex
Most often when buyers look at purchasing their first home for sale, they automatically think to buy an apartment, single family home or condo - but rarely a duplex. Depending on your circumstances and location, buying a duplex could be a great idea. There are a few different things a buyer can do with the extra property space they get when buying a duplex....
5 Things to Know about Building a Home and Financing It
Deciding to build your own dream home can present unique financial hurdles for a borrower. This is because getting financed to build a home is not the same or as easy as getting financed for an existing property. This week we will discuss some of the things a prospective home builder can expect when it comes to building your own home. One primary difference in ge...
The shock resulting from the surprise outcome of the Brexit vote made quite a rumble in the financial world. Now that the news has settled some, home buyers are now beginning to see how the vote could benefit them. The Benefits - Following the news, mortgage rates dropped significantly. On June 27th, mortgage interest rates dropped to an average of 3.4....
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Questions about Lendem Financial mortgage loan options? Why you should think about using a mortgage broker vs a bank? Using a Mortgage Loan Officer that has access to all sources of lending institutiuons helps people get the best loan for their situation and offers all options on the market vs the programs at one bank. Call Todd Rubick of Lendem Financial and tell him why the bank said no... If your tax returns do not show your true income, or credit is less than perfect... Full service all source lending strategies will be offered for those that need them.