Did you also know that in your first year almost all of your mortgage payments go towards the interest with very little going towards the principal?
This means that you can reduce your taxable income, resulting in hundreds of dollars in savings each month!
Residential Mortgage interest and property taxes paid each year are tax deductible for most homeowners. Home ownership is the single largest benefit most families can use to save on income taxes and to build wealth.
Did you know that the average net worth of a family who own a home is nearly $250,000 while the average net worth of a family who rents is just $5,000. Contact one of our new home specialists and let them help you get started with homeownership today.
The information contained on these pages are for reference only. Neither MonteVista Homes nor PacWest Realty group are licensed tax professionals. We strongly encourage you to seek the advice of a licensed tax professional prior to making any tax related decisions.
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