Tying the knot comes with a lot of financial implications. It can raise your taxes. It can lower them (if you’re lucky). It can affect the types of retirement accounts you can get. It can affect how much you pay for insurance. And, in some cases, it can even affect your mortgage.
There are a lot of things to consider when you’re getting ready to buy a house. But if you’re married,…
Picture this. You’ve just married the person of your dreams. You’re home from your honeymoon and now you’re ready to kick your relationship up a notch. That’s right, you’re ready to take the plunge from newlyweds to homeowners. You’ve searched online, found the perfect home, went to look at it, fell in love and now you’re ready to put in an offer. You contact your banker, giv…
The type of property you’re purchasing affects both your interest rate and your eligibility for a mortgage interest deduction. There are three ways the property you’re purchasing can be classified: a primary residence, a second home or an investment property.
Primary Residence
Primary residences qualify for the lowest mortgage rates. In order for a home to qualify as your primary…