Blog – Homespire Mortgage


Here’s the truth – there is no federal tax deduction for paying monthly rent. But as a new or potential home buyer, you’ll be pleasantly surprised to learn about the many tax deductions available to homeowners. By investing you tax refund towards a down payment on a home, you could save that you’ll get more in return (cue: ba-dum-ching!). Let’s take a look at the extra write-offs available to homeowners:
1. Mortgage Interest

If you think there’s no chance you could ever afford to buy a home, it’s time you take a closer look at the real costs of renting. You’ll be surprised to learn that owning your own home is comparable (and maybe even a little less expensive!) than renting. Imagine having the freedom to demo a wall to create a more spacious kitchen or to paint your bedroom neon green – things that

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