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(former)FormerSanDiegan
Participant[quote=pepsi]
I think it is more like $9500, because you need to deduct the standard deduction:
(720K * 0.6 – STD ) * 0.34[/quote]
Wrong. Though your point might be correct for those in lower income ranges (e.g. 100K and less),
the truth is that for most people in the 200K + tax bracket that they pay enough in state income tax and property tax alone to exceed the standard deduction.ParticipantI believe that the original poster is correct in their assertion that 10% down true Jumbo loans (more than 629K) are not currently available. My mortgage broker could not find one.
However, If you have 25% down, and are willing to pay a point or 2, US Bank has Jumbo rates around 6% for 30-year fixed.
ParticipantI believe that the original poster is correct in their assertion that 10% down true Jumbo loans (more than 629K) are not currently available. My mortgage broker could not find one.
However, If you have 25% down, and are willing to pay a point or 2, US Bank has Jumbo rates around 6% for 30-year fixed.
ParticipantI believe that the original poster is correct in their assertion that 10% down true Jumbo loans (more than 629K) are not currently available. My mortgage broker could not find one.
However, If you have 25% down, and are willing to pay a point or 2, US Bank has Jumbo rates around 6% for 30-year fixed.
ParticipantI believe that the original poster is correct in their assertion that 10% down true Jumbo loans (more than 629K) are not currently available. My mortgage broker could not find one.
However, If you have 25% down, and are willing to pay a point or 2, US Bank has Jumbo rates around 6% for 30-year fixed.
ParticipantI believe that the original poster is correct in their assertion that 10% down true Jumbo loans (more than 629K) are not currently available. My mortgage broker could not find one.
However, If you have 25% down, and are willing to pay a point or 2, US Bank has Jumbo rates around 6% for 30-year fixed.
Participant[quote=cv2]How long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.[/quote]
This is misleading. Low-down loans have been around since WAY before 1996.
Private Mortgage Insurance has been around since the late 1950’s (for mortgages with less than 20% down). MGIC was founded in the late 50’s.
FHA has been around since the 1930’s. BY 1938, a house could be purchased with as little as 10% down.
Participant[quote=cv2]How long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.[/quote]
This is misleading. Low-down loans have been around since WAY before 1996.
Private Mortgage Insurance has been around since the late 1950’s (for mortgages with less than 20% down). MGIC was founded in the late 50’s.
FHA has been around since the 1930’s. BY 1938, a house could be purchased with as little as 10% down.
Participant[quote=cv2]How long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.[/quote]
This is misleading. Low-down loans have been around since WAY before 1996.
Private Mortgage Insurance has been around since the late 1950’s (for mortgages with less than 20% down). MGIC was founded in the late 50’s.
FHA has been around since the 1930’s. BY 1938, a house could be purchased with as little as 10% down.
Participant[quote=cv2]How long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.[/quote]
This is misleading. Low-down loans have been around since WAY before 1996.
Private Mortgage Insurance has been around since the late 1950’s (for mortgages with less than 20% down). MGIC was founded in the late 50’s.
FHA has been around since the 1930’s. BY 1938, a house could be purchased with as little as 10% down.
Participant[quote=cv2]How long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.[/quote]
This is misleading. Low-down loans have been around since WAY before 1996.
Private Mortgage Insurance has been around since the late 1950’s (for mortgages with less than 20% down). MGIC was founded in the late 50’s.
FHA has been around since the 1930’s. BY 1938, a house could be purchased with as little as 10% down.
Participant[quote=temeculaguy]
Of course the credit is available to non resident aliens, I was all bummed when I realized I didn’t qualify because my income was too high, but now I feel all better knowing that anyone who has been physically in this country for 180 days, legally or not, qualifies, oh goodie![/quote]To get the credit, they have to file their taxes, don’t they. I don’t see how this goes to illegal aliens. And if there is a break for legal aliens, what’s wrong with that as long as they are here legally and properly filing and paying their taxes ?
Participant[quote=temeculaguy]
Of course the credit is available to non resident aliens, I was all bummed when I realized I didn’t qualify because my income was too high, but now I feel all better knowing that anyone who has been physically in this country for 180 days, legally or not, qualifies, oh goodie![/quote]To get the credit, they have to file their taxes, don’t they. I don’t see how this goes to illegal aliens. And if there is a break for legal aliens, what’s wrong with that as long as they are here legally and properly filing and paying their taxes ?
Participant[quote=temeculaguy]
Of course the credit is available to non resident aliens, I was all bummed when I realized I didn’t qualify because my income was too high, but now I feel all better knowing that anyone who has been physically in this country for 180 days, legally or not, qualifies, oh goodie![/quote]To get the credit, they have to file their taxes, don’t they. I don’t see how this goes to illegal aliens. And if there is a break for legal aliens, what’s wrong with that as long as they are here legally and properly filing and paying their taxes ?
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