it’s just Giuseppe with Hallmark Mortgage.
today I want to just touch on the topic of what is tax-deductible when you buy a
home and when your own home and so of course you need to consult with your CPA
if you need a referral to a great CPA please let me know I’d be glad to share
the name of the person that I use but as far as buying a home some closing costs
that you pay at closing are tax deductible if you pay them not if the
seller pays them for you including discount points and any interest that’s
doing a loan that’s collected prepaid interest from the day you close until
the end of the month so those are as far as they are closing closing costs that
may be tax-deductible for you as a homeowner you will always I should say
always in case tax code changes that you’ll be able to deduct your mortgage
interest as long as the loan is less than a million dollars so mortgage
interest on that loan is tax deductible your property taxes are tax deductible
and then depending on your income level if it’s you know just below a hundred
thousand dollars a year just a gross income but that number does change year
to year then the mortgage insurance currently is
still tax deductible for you if you are buying an investment property then of
course you’ll be able to depreciate the property as well as write off other
expenses like home insurance HOA dues and maintenance. If you have any questions
give me a call and have a great rest your day bye-bye