Michael Idarola

Mortgage Interest Deduction 2020 Guide

Mortgage Interest Deduction 2020 Guide

What is the Mortgage Interest Deduction? The mortgage interest deduction, as the name suggests, is a specific type of tax incentive aimed at homeowners. It’s an itemized deduction that allows you to deduct any interest that you’re paying on a loan that was specifically related to building, purchasing or improving your primary residence.  Once claimed, …

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Difference Between Mortgage Forbearance and Mortgage Deferment

The Difference Between Mortgage Forbearance and Mortgage Deferment

What is Mortgage Forbearance? Mortgage forbearance is a term that describes what is essentially a temporary pause in your monthly mortgage payments. People request mortgage forbearance for a wide range of reasons, including if they’re going through some type of financial hardship due to the loss of a job or if they’ve incurred unexpected expenses …

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How to get a Mortgage and Buy a Home Even if You Have Poor Credit

How to get a Mortgage and Buy a Home Even if You Have Poor Credit

Almost everything you read about getting a mortgage advises that the first step is to build your credit. Often, this is a process that takes at least a couple of years; time that not everyone has. Whether you’re trying to buy a home for your new family, striving to get some stability in your life, …

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morgage broker or mortgage bank

The Difference Between Working with a Mortgage Broker and a Bank

When you’re applying for a mortgage, you have the option of working with a mortgage broker and working directly with a bank. There are pros and cons to each one, but the experience is completely different. Deciding whether to work with a mortgage broker or a bank is important because it influences the choices you …

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lower interest rates

3 Reasons You Should Not Wait for Lower Interest Rates to Buy a Home

If you’re looking for the best moment to jump into the market and buy a home, you likely have your full attention on mortgage interest rates. As the rates dipped lower and lower all throughout 2020, there was seemingly no end in sight, leaving you asking, “Will that trend continue through 2021?” The fact is, …

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simple guide to FHA loans

A Simple Guide to Understanding FHA Loans

New buyers interested in purchasing a home may have heard the term “FHA loan” before . FHA loans are specifically designed to help new buyers afford home purchases and expand their options when looking at real estate. FHA-approved lenders can offer these loans to buyers looking for more flexible mortgage options, but there are limitations. Here’s …

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