Monthly Archives: December 2024
What Is “APR” And Why Does It Matter?
WHAT IS APR? The federal government requires mortgage lenders to disclose the “annual percentage rate” (APR) whenever they advertise a loan program. APR is calculated by adding some of the costs you pay at closing to the total interest you’ll pay over the life of the mortgage. An annual interest rate is then calculated based... Read More
Tax-Deductible Items For 2024 Closings
Here is a general overview of some information that may be helpful to you and your CPA as you prepare your 2024 tax returns (the return you’ll file by April 2025). POINTS PAID ON A HOME PURCHASE IN 2024 Closing Disclosure Page 2, Section A – If the origination charges on Page 2, Section A of... Read More
Will The Housing Market Crash?
THERE IS LIMITED HOUSING SUPPLY… AND THIS WON’T CHANGE ANYTIME SOON. We currently have a shortage of between 3 million and 5 million homes in the US, according to research conducted by Freddie Mac, the National Association of Realtors, and others. That’s because we’ve been under-building homes for the past decade. The problem at the... Read More