In January of 1991 the Mortgage points laws changed. Homeowners are able to deduct points paid by the seller. It used to be only the buyer paid points that were tax deductible.
Your Tax accountant and your Real Estate agent should be able to expand on this rule change further.
A new program that we have seen lenders marketing is called the “Seller Buydown Program”
Where sellers are offering to buy a potential buyers rate down for the, so they can basically afford a more expensive house while keeping their monthly payments solid.
This is a new program that used to be offered mainly by Home Builders, but we are starting to promote as a tool to help sellers have more options when it comes to selling their homes.
Any questions contact Adam Kruse at Adam@HermannLondon.com or call our office 314-802-0797
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