If you put down less than 20% on a house, expect to be required to purchase private mortgage insurance or PMI, which protects the lender in the event you default on your mortgage. PMI premiums on a median priced home ($285,000 in 2019) can run between $50 and $100 per month. PMI might be unavoidable, […]
Home owners who are eligible to deduct private mortgage insurance, or PMI, premiums can shave hundreds of dollars off their income tax bills. If you put down less than 20% on a home, expect to be required to purchase private mortgage insurance, which protects the lender in the event you default on your home loan. That’s […]
Homeownership comes with many benefits not the least of which are the home related expenses you can deduct. Along with the joy of ownership, come some important new tax considerations. Everyone knows that owning a home is the American dream, but did you know that borrowing to pay for one is a taxpayer’s dream? As […]
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