Tax Implications of Home Ownership
Owning a home carries several tax implications that you should know about before you decide to buy. The U.S. Tax Code provides a few tax benefits, including reducing your tax obligations ...
Construction & Renovation Mortgages
Build or remodel your dream home
Whether you’re building a brand-new home—including modular construction—or restoring that fixer-upper, you’ll find a wide array of mortgage and loan options at Salem Five.
- We combine construction loans (usually 3-12 months) and mortgages as a single loan with one closing, saving money and time—the mortgage kicks in when construction is complete
- The federal 203K Renovation Loan program covers home improvement, repairs and fix up. Complete your renovations after closing by using a portion of the loan proceeds for improvement costs
- We offer a specialized loan program for the construction of modular homes
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Other Articles of Interest
Key Mortgage Terms
Choosing to buy a home is a straightforward decision, but navigating the home loan process can be intricate, with many mortgage terms that might be new to you ...
Down Payment Assistance Programs
For those at the low-to-moderate-income level, the most substantial barrier to homeownership are the closing costs and a down payment associated with ...
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Los Documentos y formularios que prevemos para abrir y mantener su cuenta, Con Salem Five, son proporcionados en inglés.