Tag Mortgage Insurance

Tag Mortgage Insurance

Mortgage Insurance Tax Deductible for 2014

John Thomas December 26, 2014 Tags: ,
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Mortgage Insurance Tax Deductible for 2014 for all homeowners who make less than $109,000 effective with the passage of the Tax Increase Prevention Act of 2014 on December 16, 2014 by the U.S. Senate.  The House of Representatives passed the bill on December 3, 2014.

The passage of this bill means homeowners can claim the MI Tax Deduction retroactive to January 1, 2014 allowing eligible borrowers with adjusted gross income of less than $109,000 to deduct the eligible amount of their 2014 mortgage insurance premiums when they file their 2014 Federal Tax Returns.  We recommend that you consult a tax adviser to determine if you are eligible to claim the mortgage insurance deduction. Keep Reading...

Delaware FHA Monthly Mortgage Insurance Premium Increasing Monday

John Thomas April 14, 2011 Tags: ,

The monthly mortgage insurance premium for Delaware FHA loans will increase by 0.25% on all FHA case numbers pulled on or after April 18, 2011.  So if you are under contract to purchase a home in Delaware and are using an FHA loan then you need to make sure your loan officer pulls your FHA case number by Friday April 15, 2011 or if you are considering an FHA refinance then you should call to get your FHA case number pulled before the end of the day on Friday April 15, 2011.  If you need help please feel free to call 302-703-0727. Keep Reading...

Mortgage Insurance Tax Deductible

John Thomas January 5, 2007 Tags: , , ,
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Mortgage Insurance Tax Deductible

Mortgage Insurance tax deductible in 2007 for some Delaware homeowners. This means for some home owners looking for a 100% financing, it may be cheaper to get  one mortgage with mortgage insurance rather than a piggy back loan.  A piggy loan is a 2nd mortgage loan that is used in conjunction with a first mortgage loan that is only 80% of the purchase price to avoid paying mortgage insurance.  If you have questions about mortgage insurance feel free to call 302-703-0727 to speak to a Delaware Loan Officer. Keep Reading...