Category Archives: Financing Your Charlottesville Home

Blog posts in this category will discuss issues about financing your Charlottesville home. 

Financing a mortgage for your home purchase is among the most important parts of buying a Charlottesville home.

Posts will address different mortgage options available in the Charlottesville Virginia area. One post discusses interest rates while another post discusses financing a home remodel for resale value. There is a post that discusses Real Estate Recovery. A special post discusses understanding your finances. It also talks about learning how to save your money. All of the posts under this category should be of great help to the Charlottesville home buyer.

Take the Standard Deduction & the Home

About the Standard Deduction and Home Finances Now that the standard deduction is increased to $12,200 for single taxpayers and $24,400 for married ones, many homeowners are better off with the standard deduction than itemizing their deductions to write off their mortgage interest and property taxes. There was some speculation that without the tax advantages, […]

Another Source for a Down Payment

Use Your IRA to Make a Down Payment for Your New Home  How your IRA can help you make a down payment on a new home. Information about IRS tax rules and some interesting useful conditions are included. Borrowing from a 401k, 403b or the cash value of life insurance policy is a common financial […]

Understanding the Mortgage Interest Deduction

What to Know About Mortgage Interest Deduction Mortgage interest paid on your principal residence is deductible today. This is as it was in 1913 when 16th amendment allowed personal income tax. The 2017 Tax Cut and Jobs Act reduces the maximum amount of acquisition debt from $1,000,000 to $750,000. Acquisition debt is the amount of […]