If you didn’t spend the weekend working on your taxes, chances are you are feverishly trying to finish them today. With that in mind, here are five tax breaks that homeowners can take advantage of.
1. Mortgage Interest Deduction — The mortgage interest deduction is not only the most popular real estate tax break, but one of the more straightforward. In short, 100 percent of the interest that you pay on your home loan in a given year is tax deductible.
In 2016, home prices rose in a number of DC neighborhoods. As the year comes to a close, UrbanTurf dug into the neighborhoods where median sales prices rose the most between the first eleven months of 2015 and the same period this year. We omitted neighborhoods with very low sales volume.
Here are the top 6:
6. Shepherd Park
Shepherd Park is a DC neighborhood just to the east of 16th Street and north of Brightwood that has become popular with young families over the last fifteen years. » Read more about: The DC Neighborhoods with the Best Home Price Appreciation in 2016 »
If you haven’t heard by now I wanted to let you know loan amounts will be increasing for conventional and government financing effective Jan 1, 2017. As a standard Conventional and Government loan the new loan amounts will be as follows:
As a Jumbo (or High Balance) Conventional and Government loan the new loan amounts will be: