Monthly Archives: February 2018

Fla. property taxes about average in state comparison

Fla. ranks 27th in a state-by-state comparison of property taxes by WalletHub with an effective real estate tax rate of 1.02%. But unlike 27 other states, Fla. doesn’t have a tax on vehicles, nor does it have a state income tax.

Source: Association News: Reprinted with permission Florida Realtors. All rights reserved.
Reprinted with permission Florida Realtors. All rights reserved.

Many lenders loosening mortgage requirements

Thanks to new laws and economic fears, mortgage lending ground to a halt for all but very credit-worthy buyers after the recession. But pushback led to “thoughtful underwriting of loans,” and more buyers find that they now qualify for a home.

Source: Association News: Reprinted with permission Florida Realtors. All rights reserved.
Reprinted with permission Florida Realtors. All rights reserved.

IRS: Some home equity loans are still tax deductible

In a response to “many questions,” the IRS ruled that secondary home loans – equity loans, home equity lines of credit and second mortgages – are still deductible after tax reform if borrowers use the funds for home improvements.

Source: Association News: Reprinted with permission Florida Realtors. All rights reserved.
Reprinted with permission Florida Realtors. All rights reserved.

Are ultra-low mortgage rates gone forever?

“I would say this has been a long time coming,” says Dan Starelli, head of Guild Mortgage in Sacramento, Calif. “We’ve had interest rates dropping for decades. I think we hit bottom. I don’t think we’ll see rates in the 3s again.”

Source: Association News: Reprinted with permission Florida Realtors. All rights reserved.
Reprinted with permission Florida Realtors. All rights reserved.

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