I am considering applying for a home equity loan. In order to get the money I need, my house would need to be assessed at a higher value than it currently is.
Read the rest here:
Will A Home Equity Loan Increase My Property Tax? | FHA Mortgage Blog
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Tags: FHA Mortgage, financial, higher-value, home equity, house, how-much, money, whether-or-not, your-financial
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Let's say you have a household income of $175000 and are paying 35 percent of that in total to the state and federal tax collectors. If you pay $20000 in mortgage interest each year on a loan that charges 5 percent, the deduction effectively brings your taxable income ... Imagine people who scraped together a 5 percent down payment and bought a home in Florida or Arizona in 2005 and then made extra mortgage payments the first two years to try to increase their equity. ...