It is Tax Season: Tax Breaks for First Time Home Buyers

Are you thinking about purchasing your first home? Tax breaks available for first-time homeowners may make it worthwhile. Consult your accountant or tax professional about which of these conditions apply to you. You may be able to deduct the total amount of interest paid on your mortgage. If you make a down payment of less than 20% of the home’s purchase price, you will need private mortgage insurance – which may be deductible. Mortgage insurance on government-backed mortgages may also be deductible in the same way as mortgage interest. You may be able to deduct local real estate property taxes you pay on your new home. Check to see if you are able to deduct points and charges you paid to your lender to obtain the mortgage for your first home purchase. As your lender, Texas Premier Mortgage loan officers would be happy to assist you with this! If you choose to install renewable energy systems in your home, such as solar panels, you may be eligible for deductions of up to 30% of the installation costs. If you purchased your first home for a job opportunity and moved more than 50 miles for it, you may be able to deduct your moving expenses. If your new home required some upgrades, you may deduct the value of donated construction materials or demolition waste donated to a qualified charity.

The Golden Rule of Mortgage Lending

You have heard of the saying of the golden rule, "Do unto others as you would have them do unto you." The real question is, when we apply this to our everyday lives, towards our friends, co-workers, boss, family, clients, do we really practice it? In order to be successful in any line of work, you must always put this rule first. Forget about what anyone may think about you, but just do the right thing for your customer. This principle is really simple. This is why we continue to have referral partners and repeat customers over and over again. Think of others first, and the rest will fall into place. At Texas Premier Mortgage, we take pride in knowing we provide the best service we can to all of our customers.

We appreciate the fact that our customers are willing to give us a chance to assist them, and in return will always apply the golden rule for them, and anyone we provide a service for. Who can you apply the golden rule for today in your life? In ours, its simple...everyone!