Yahoo Web Search

  1. Ads
    related to FHA
  1. Sort by

  1. That is deductible. However you may only deduct the portion that applied to 2007 so you must pro-rate the premium. If it's a 30 year mortgage, divide the total premium by 360 and multiply that by the number of months remaining in the year from the closing...

    1 Answers · Business & Finance · 22/03/2008

  2. You cannot deduct the processing fee, warehouse fee or the admin fee. You are correct about the loan origination fee. Commitment fees and processing costs are not tax deductible.

    2 Answers · Business & Finance · 12/01/2011

  3. As of right now, the deduction for PMI expires with the 2011 tax year. Whether or not Congress renews the deduction for 2012 and beyond is anyone's guess.

    3 Answers · Business & Finance · 13/03/2012

  4. All I can suggest is that you get a copy of IRS publication 3, highlight the extension info on page 22 and give them a copy along with your orders. If you are a civilian, you need your job contract and letter of authorization to show you were eligible.

    1 Answers · Business & Finance · 21/05/2011

  5. Go see a lender and get preapproved for a mortgage. Then you'll know where you stand. But you shouldn't even try to buy a house until you get your debt issues (taxes or otherwise) cleaned up.

    2 Answers · Business & Finance · 20/09/2009

  6. Points for a purchase money mortgage are deductible in the year of the purchase. Of course you must have enough itemized deductions to make itemizing worthwhile. Unless you close fairly early in the year you probably won't have enough deductions...

    1 Answers · Business & Finance · 09/04/2013

  7. It could if your debt load puts your out of limits on the loan.

    1 Answers · Business & Finance · 18/04/2008

  8. See IRS publication 4681. Example 1 on page 10. Generally the loan modifcation amount can be excluded from income (if it's the original loan), BUT the amount is subtracted from your basis. If the value of the house ever...

    2 Answers · Business & Finance · 16/10/2008

  9. There may be an advantage to waiting if you have been self employed or have had rental income for only two years and you need to confirm your income with a second year of Federal tax returns. For most salaried or wage...

    3 Answers · Business & Finance · 05/01/2014

  10. I assume that you are talking about an amendment for the first time home buyers credit. Most are running 16-20 weeks due volume of them received by the IRS. Due to many attempts to fraudulently receive...

    5 Answers · Business & Finance · 28/10/2009

  1. Ads
    related to FHA
  1. Try asking your question on Yahoo Answers