Архив автора: Jon Gorey

All About First-Time Homebuyer Grants

Buying a home can be crazy expensive, and for most first-time buyers, the hardest part is saving up a sizable down payment. You’ve no doubt heard that the traditional down payment should be 20% of the purchase price — any less, and you’ll likely have to pay private mortgage insurance (PMI) or get stuck with a higher long-term interest rate. And who’s got 20% of, say, $300,000 just kicking around in their bank account? (далее…)

Запись опубликована автором в рубрике Без рубрики.

The Key to Buying a Home? Be a White College Graduate, According to This Data

As anyone who’s ever played Monopoly knows, homeownership helps build wealth over time (er, if it doesn’t bankrupt you). It’s not through any kind of financial alchemy or anything. It’s just that, at some point, instead of circling around the board and owing rent everywhere you land, scraping by until you pass Go and collect a paycheck, you’ll eventually own something. Maybe you’ll be the one collecting rent on St. James Place. (далее…)

Запись опубликована автором в рубрике Без рубрики.

What Tax Breaks Can I Get as a First-Time Homebuyer?

In 2008, the U.S. housing market was already cratering as the Great Recession took hold. To try and stop the bleeding, Congress passed a series of first-time homebuyer tax credits, each more generous than the last. First came a $7,500 tax rebate, to be repaid over 15 years with no interest. By early 2009, it had grown to $8,000, and required no payback whatsoever. And for most of 2010, even some repeat home buyers were eligible for a tax credit worth up to $6,500. (далее…)

Запись опубликована автором в рубрике Без рубрики.

Here’s How Much Extra Cash You’d Have If Rent Were Affordable

Imagine, if you will, that you only had to pay the recommended maximum of 30% of your income on rent. For a family earning $100,000, that would be $2,500 a month. Not exactly chump change, to be sure — but still not enough to afford even a median-priced two-bedroom apartment in cities like New York, San Francisco, Washington, Boston, or Los Angeles (places where a six-figure salary doesn’t stretch like it used to). (далее…)

Запись опубликована автором в рубрике Без рубрики.