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What tax benefits are there to homeowners?

Kalamazoo & Portage Michigan Homeowners benefit from several generous tax advantages. The most important benefit is the mortgage interest deduction. People may deduct interest paid on mortgage loans totaling up to $1 million used to buy, build or improve a principal residence plus a second home. The IRS calls such loans acquisition debt.
Points paid by the buyer or seller on a new mortgage loan for the purchase or improvement of a principal residence are deductible for the year in which the home was purchased.
Any points paid on a refinance mortgage, a loan to purchase a second home or a mortgage on income property must be spread over the life of the loan, according to Edith Lank and Miriam S. Geisman, authors of "Your Home as a Tax Shelter," Dearborn Financial Publishing, Chicago; 1993.
 

Contact Information

Joel Nelson
Keller Williams Realty Kalamazoo
8075 Creekside Drive
Portage, Michigan, 49024
Office: 269-492-7582
Cell: 269 760-1558
Fax: 888-234-7221
Email Us
HomesofSWMichigan.com
Home for sale in Kalamazoo MI - Milwood Neighborhood - Immediate Occupancy | Print |  E-mail

Conveniently located between Portage MI and downtown Kalamazoo MI is the Milwood neighborhood.

At 1614 Cambridge is a wonderful 2 bedroom Cape Cod style home available.  In move-in condition, this home boasts hardwood floors in top shape, plaster walls, a full basement with a recreation room and a one car garage.

The backyard is fenced to allow your children and pets to play safely under your watchful eye.

Loaded with charm and priced to sell at only $75,900, this home is available for immediate occupancy and is in move-in condition.

 
 
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