Start your own stimulus package and Buy a home.


“Tax deductions can make homeownership as affordable as renting.”

Unlike renters, homeowners get part of their monthly payments back at tax time. That’s because the mortgage interest they pay is (in most cases) fully tax deductible.

For a mortgage payment of, say, $1,000 (principal and interest only), you could purchase a home for $151,426 if you put a 10% down payment on a 30-year loan at 8%. If your payments started in January, your first-year mortgage-interest tax deduction would be $10,862. Assuming you are in the 27.5% tax bracket, you would save $3,041 in taxes–that’s $249 per month. So the $1,000 payment mentioned earlier is really $751 when computing the homeowner’s tax advantage.

INVEST YOUR RENT

Of course, there are other costs to consider when buying a home. To learn more, read our FREE online report, INVEST YOUR RENT: Why Pay Your Landlord’s Mortgage? Just click the link to read the report, and feel free to call us if you have any questions. (The Gooder Group)

Right now rate are even lower at 5% and you only need 3.5% down for an FHA loan.  Don;t look for a hand out.  Go out and buy a home and create wealth.

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