Higher Interest, Less Taxes

EDIT/DISCLAIMER: Check with your CPA for your exact scenario. I used a case for $800k to make the math easy for the demonstration but you are only allowed to take the deduction on the first $750k of indebtedness. My example used $800k.

In any event, the moral stays the same. First time home buyers looking up to $1m - like my clients in Los Angeles, that are feeling down about the interest rates need to understand what this means for their taxes at the end of the year. It can be a substantial deduction and help make the yearly affordability that much better.

Homes are expensive, yes, but there are so many positively associated financials aspects with homeownership, it is important to understand that it is NOT only about the price of the house and cost of your mortgage, it is about looking at your home like the bank it is supposed to be and then speaking with financial professionals to understand all the of the positive financial attributes owning offers.

🤔Thinking about maybe, possibly, considering, one day doing something in real estate? Let’s chat!
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