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 ...
Home Purchase
Fixed-Rate Mortgage
With a fixed rate mortgage, your principal and interest payments stay the same for the life of the loan—a good choice if you’re planning to stay in your home for a long time. Choose from varying year terms, such as 30 year or 15 year.
Adjustable-Rate Mortgage
Adjustable rate mortgages (ARM), also known as variable rate mortgages, have varying terms to maturity where your interest rate and monthly principal and interest payments remain fixed for the initial pre-determined period of time, once the fixed period expires the interest rate adjusts annually based on a rate index.
Jumbo Loans
For loans over $510,400, we offer jumbo mortgages, also called non-conforming loans. Jumbo financing options include fixed and adjustable rate mortgages, with a range of terms to accommodate your immediate and long-term financial plans.
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Other Articles of Interest
Retirement Tax Planning
Benjamin Franklin remarked, "Nothing is certain except death and taxes." Even today, this sentiment holds relevance. It underscores the importance of tax ...
Getting Rid of Private Mortgage Insurance
When purchasing a standard mortgage from a private lender, you may be required to purchase private mortgage insurance (PMI). However, PMI can be costly, usually charging you ...
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Los Documentos y formularios que prevemos para abrir y mantener su cuenta, Con Salem Five, son proporcionados en inglés.