Entries by jbumbales

Adjustable Rate Mortgages

  What is an adjustable rate mortgage? Adjustable Rate Mortgages (ARMs) are based on a 30-year term and are represented by two numbers (i.e. 5/1 ARM). The first number indicates the initial fixed-rate period and the second number indicates how many years after the fixed-term until the rate can be adjusted. In general, the shorter […]

One Percent Down Mortgages

  What does 1% Down Mean? With a Conventional 1% Down, you put 1% down and your lender contributes 2% for a 3% total equity down payment. Then, you finance the rest through a conventional loan. Benefits of a conventional 1% down payment Put more money down up front Lender contributes to your down payment […]

Tax Law Changes Affecting Mortgage & Home Equity Interest Deductability

Important Information About The New Tax Law Changes Affecting Mortgage & Home Equity Interest Deductibility We’d like to pass along some important information about mortgage interest deductibility on your federal tax return.  As many of you may be aware, the new tax law caps deductibility of interest on first mortgages, and eliminates deductibility on 2nd mortgages and Home […]