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Monthly Archives: December 2019

    Another Source for a Down Payment

    By Carla Higgins | December 31, 2019

    Borrowing from a 401k, 403b or the cash value of life insurance policy is a common financial strategy. While taxpayers are not allowed borrow from either a traditional or Roth IRA, they can withdraw funds before age 59 ½ for specific purposes like a first home purchase, qualified higher education expenses or permanent disability without … Continue reading Another Source for a Down Payment → Read More

    Anticipating the Cost of a Home

    By Carla Higgins | December 24, 2019

    The largest expenditure a buyer has when purchasing a home is the down payment which can range from zero for veterans or 3.5%, 5%, 10% and 20%. With mortgages come closing costs which can be another 2-4% and must be paid at settlement in cash. Most mortgages require an escrow account to pay the property … Continue reading Anticipating the Cost of a Home → Read More

    Personal Finance Review

    By Carla Higgins | December 17, 2019

    Even if Benjamin Franklin never actually used the expression “a penny saved is a penny earned”, the reality is that it has been a sentiment for frugality for centuries. He did say: “Beware of little expenses; a small leak will sink a great ship.” At the end of the day, it is not about how … Continue reading Personal Finance Review → Read More

    an Investment Perspective on a Home

    By Carla Higgins | December 10, 2019

    Looking for an investment that will turn $10,000 into $80,000 in seven years? Sound too good to be true? What if I told you that you could live in it every day during that seven years? Would that sound even better? A $300,000 home purchased today on an FHA loan would have a $10,500 down … Continue reading an Investment Perspective on a Home → Read More

    Understanding the Mortgage Interest Deduction

    By Carla Higgins | December 3, 2019

    Mortgage interest paid on your principal residence is deductible today as it was in 1913 when 16th amendment allowed personal income tax. The 2017 Tax Cut and Jobs Act reduced the maximum amount of acquisition debt from $1,000,000 to $750,000. Acquisition debt is the amount of debt used to buy, build or improve a principal … Continue reading Understanding the Mortgage Interest Deduction → Read More

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