Points Are Tax Deductible

Points paid on a mortgage loan are tax deductible so long as they are “true” points. To be true point for the tax deduction the points have to exist for the purpose of buying down the interest rate. Think of it this way: because Mortgage Interest is Tax Deductible, points paid to lower the interest […]

How To Pay For Closing Cost when buying a home Plano Texas

How To Pay For Closing Costs

How To Pay For Closing Costs When structuring a mortgage home loan there are four ways to pay for the Mortgage Closing Costs: pay cash at closing, roll the costs into the loan, increase the interest rate, or do a combination of the aforementioned methods.  When lenders offer “no cost” loans or “low costs” loans they are either rolling the costs […]

Seller Concessions for Best Listing Realtor in Dallas

Seller Concessions

Seller Concessions Seller Concessions are essentially a way to “roll-in” Closing Costs on a purchase home loan (see also How To Pay For Closing Costs). Seller Concessions are negotiated between the buyer and seller during the contract negotiations and are recorded in Section 12 of the purchase contract.  (Note: Seller Concessions can be included in a contract amendment […]