February 2016

Found 2 blog entries for February 2016.

 

Homeowner tax Breaks

From mortgage interest to property tax deductions, here are the tax tips you need to get a jump on your returns.

Owning a home in Montana can pay off at tax time.  

Take advantage of these home ownership-related tax deductions and strategies to lower your tax bill:

 

Mortgage Interest Deduction 

One of the neatest deductions itemizing homeowners can take advantage of is the mortgage interest deduction, which you claim on Schedule A. To get the mortgage interest deduction, your mortgage must be secured by your home — and your home can be a house, trailer, or boat, as long as you can sleep in it, cook in it, and it has a toilet.

Interest you pay on a mortgage of up to $1 million — or $500,000 if you’re married filing separately — is

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Average long-term U.S. mortgage rates fell for the fifth straight week.  This is great news if you are searching for a new home in Bozeman or the southwest Montana area.

 The average rate fell to 3.72 percent on a 30-year fixed-rate mortgage, The Associated Press reports. 

 The average rate for 15-year fixed-rate mortgages fell to 3.01 percent, according to the AP. 

 Mortgage rates continue to fall despite the Federal Reserve raising the short-term rate for the first time since 2006, the AP says.

Remember, if you need any assistance or have any questions regarding brokering your real property and/or finding a new home for sale in the Bozeman, Livingston, or Manhattan areas, give us a call or send us an email – 406.404.1960 or

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