Tips for Tax-Savvy Homeowners

By Anya Martin October 7th, 2015 With nearly three months left in 2015, jumbo-mortgage borrowers can make tweaks to cut their tax bill in April Illustration: Chris Gash Autumn chores: raking leaves, weatherproofing, storing the patio furniture and preparing for next year’s tax returns. With nearly three months left in the year, jumbo-mortgage ...

What to Know About the New Mortgage Forms

New rules help borrowers compare home loans and see the total cost before closing Illustration: Chris Gash By: Anya Martin September 30th, 2015 Mortgage borrowers should find it easier to compare different loan products and understand the total cost of their loan under new rules that take effect Saturday. The changes are part of the Consumer Financial ...

Love It and Lease It: Rent-to-Own Luxury Homes

By: Anya Martin September 9, 2015 Signing a lease option helps jumbo-mortgage borrowers save for a higher down payment, get their credit history in order and lock in on their dream-home purchase Illustration: Chris Gash A rent-to-own luxury home may help potential homeowners buy some time before it’s buying time. For potential jumbo-mortgage borrowers, ...

In a Divorce, How One Spouse Can Keep the House

By Anya Martin In a divorce, the house is often the biggest asset the couple will divide—and splitting it is a complicated matter. When one spouse wants to keep the house, the other often wants off the mortgage. Refinancing the loan in one name is the typical solution, but it’s not always easy. If a spouse cannot refinance, often the only alternative ...

Powers of Deduction

For those weighed down by large mortgage payments, there are ways to save money when next year’s tax season arrives; beekeeping, anyone? By ANYA MARTIN One rueful lesson of tax season: Some deductions require lots of advance planning. Homeowners willing to do the legwork now can find some creative ways to lessen their tax bills next year. Jumbo-mortgage ...

When Big Loans Come to Town

Big loans aren’t just for big cities. Affluent borrowers in dozens of metro areas sign up for the large mortgages associated with million-dollar listings. Their popularity comes as no surprise in areas such as New York and San Francisco, known for their pricey real estate. But new data show these loans also account for a significant percentage ...

ASK AN EXPERT: HOW MUCH CHEAPER IS AN APARTMENT IN A LANDLEASE BUILDING?

by Teri Karush Rogers Q.  If you have two identical apartments–one in a building that has a landlease, and one in a building that owns the land it sits on–how much less is the landlease apartment worth? A.  Expect to pay a little to a whole lot less, but be prepared for higher monthly costs, say our experts. First, ...

Average 30-year mortgage rate falls to 4.13%

Mortgage rates are now at four-month lows nationwide WASHINGTON (AP) — Average U.S. rates on fixed mortgages dropped this week to their lowest levels in four months, a positive sign for the housing recovery. Mortgage buyer Freddie Mac says the average rate on the 30-year loan fell to 4.13%. That’s down from 4.28%. The average on the 15-year ...

When Shopping for Mortgage Rates, Surprises Await

The interest rates posted online by real-estate websites and mortgage lenders are often not the rates that home buyers get when they apply for a loan. BY ANYA MARTIN When shopping for a jumbo loan, what you see isn’t what you get. A few considerations when checking jumbo rates online: • Rate bands. Even if borrowers input personal data, some ...

8 Ways to Battle Rising Mortgage Rates

By Michele Lerner While rising mortgage rates certainly make transactions more expensive, they shouldn’t deter your purchase. Here are eight ways you can buy a home despite higher mortgage rates: 1. Make a bigger down payment 2. Pay points 3. Equity sharing 4. Switch loan products 5. Shorter terms 6. Downsize expectations 7. Buying with friends ...