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All agents are NOT alike! Find out why I am a top real estate expert. Call me: 561-542-7355.
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SOLD in 60 days! I appreciate the incredible diligence,knowledge, expertise, understanding & patience of one of your TOP Real Estate Agents (Harvey Dubov) Read Quote >
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three mortgages at one time. Download TripleCalc now. It's
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Financing Your Home >Your Mortgage
Many homeowners overlook the mortgage payment as a tool for financial management. They get the mortgage, move in, make the payments, and pay off the loan eventually. Smart homeowners know that by properly adding to their monthly payments, even by a small amount, they can substantially reduce the term of their loan, not to mention the total interest they will pay. In fact, prepaying one full year of a standard mortgage can save thousands of dollars in interest. The key is to do it properly and to find the right lender for whom prepayment is not a problem.
More progressive lenders allow the option to add money to the monthly payment which goes directly to the principal. How much should you add? It's largely a personal decision, and it depends on your cash flow. But be mindful of the fact that the mortgage interest rate is probably the lowest interest loan you will find, so don't short yourself with prepayment only to run up credit card debt!
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| Q |
What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?
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| A |
One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million. |
See More Real Estate Trivia > |
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Harvey Dubov RE/MAX Advantage Plus 6901 SW 18th St., Suite 101 Boca Raton, FL 33433 561-542-7355 Fax: 561-447-7022 harveysellsboca@comcast.net
Servicing all of Broward and Palm Beach Counties Whether you are in the Market to Buy or Sell, Call Harvey. He has successfully fulfilled the dreams of thousands of families throughout South Florida. See why so many homeowners have chosen Harvey Dubov to represent them for all their real estate needs.
• Currently Awarded RE/MAX PLATINUM CLUB for 2008!! (Top 1% Nationally Elite of the Elite)
• Awarded Hall of Fame RE/MAX Award 2007!! (Top 1% Nationally – "Elite of the Elite")
• Past Awards include: RE/MAX EXECUTIVE CLUB, 100% CLUB, CHAIRMAN'S CLUB and PLATINUM CLUB 
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