About the Mesa, Arizona Area Request our Free Gilbert, Quenn Creek and Mesa Relocation Package. It's packed full of useful and important information about the Gilbert, Queen Creek and Mesa, Arizona area. Don't move here without it! Remember: we'll send it to you for free and without obligation. Just fill out the form and we will send it right out... It's our job to know EVERYTHING about Gilbert, Queen Creek and Mesa! Ask us any question. Or request a FREE information package. There's no obligation, and we promise to get back to you quickly... 
 |
First Time Buyers >The Real Bottom Line
An important part of buying a house is sitting down with your real estate agent or a mortgage lender to get a clear idea of how much you can afford. They will add up all of your monthly expenses, the mortgage payment, insurance, real estate taxes, homeowners or condo association fees--and the grand total can throw you into shock!
The important thing to remember is that the grand total isn't really the bottom line. When you add your tax savings to the equation, you may be pleasantly surprised. During the early years of your loan, almost all of the mortgage can be deducted from your state and federal income tax. The same is true of your real estate taxes. If you use part of your house as a home office, you may be able to qualify for additional tax savings. In some areas, homes with ground floor apartments are popular for offsetting part of the mortgage and offering even more tax savings.
When you make calculations about the monthly costs that include the tax savings, you may find that owning your own home is less expensive than renting a house or apartment of comparable size.
|
|
| Q |
What is the role of the U.S. Housing Authority?
|
| A |
Created in 1937 by FDR, the U.S. Housing Authority provides construction loans to small communities and states. |
 See More Real Estate Trivia > |
|
NUMBER1EXPERT®
© Homes Media Solutions™, a division of Dominion Enterprises and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT™ 
