A lot of regulations around mortgages have changed since the 2008 financial crisis, which created healthier lending practices. That didn’t change the fact that many home buyers, not just first-timers, struggle to save enough for a 20% down payment. So do home buyers need 20% down to get a mortgage? This article touches on some pros and cons around the 20% threshold. However, how you handle your money is a personal decision and getting professional guidance is advised.
Avoid Capital Gains Tax on Your Home Sale—Legally
One of the best financial and tax benefits of home ownership is the tax-free income you can earn when you sell the house. Those filing taxes as single can exclude up to $250,000 of income and it is $500,000 for those filing jointly. Whether you are using the funds to...