As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
Yep. 10% down in my id 20's for a house. How's your overpriced apartment?
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
20% of what? Pmi means you are a credit risk to your lender. I own a sfr property in Pasadena ca. I don’t pay pmi.
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
Most people either refi in a couple years to drop pmi or do a 80/10.
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
20% of what? Pmi means you are a credit risk to your lender. I own a sfr property in Pasadena ca. I don’t pay pmi.
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
20% of what? Pmi means you are a credit risk to your lender. I own a sfr property in Pasadena ca. I don’t pay pmi.
Trouble following along?
Yes, apparently. A little help here. How much upfront $$$$ did self-made man / failed football Oregon walk-on / social security financing expert (illegals pay all the tax) / need for his down payment to qualify for a non-pmi loan? 20% of what loan value?
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
GAYBOB DANGER ZONE!!!!!
Alert: Freddie and Fannie taxpayer subsidized loan coming your way!
Sorry greenbob, but GayBob is about to delver the white trash trashing of your lifetime!
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
Most people either refi in a couple years to drop pmi or do a 80/10.
The first years of a loan you're not paying much principal, mostly interest, so unless the property appreciates, uh, appreciably, refi-ing to get out of PMI isn't possible unless you've been paying extra principal above the regular mortgage amount every month
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
Most people either refi in a couple years to drop pmi or do a 80/10.
The first years of a loan you're not paying much principal, mostly interest, so unless the property appreciates, uh, appreciably, refi-ing to get out of PMI isn't possible unless you've been paying extra principal above the regular mortgage amount every month
I've owned 3 homes. One I was responsible and had more than 20% down. The other two I did not, one I was young and broke, the other I had my cash working for me. Both of those, I refinanced to drop PMI, one was in the 2000s with crazy appreciation. The other was a foreclosure in 09 that I essentially stole from the bank and was able to refinance in about 18 months.
But yes if you are buying a house in a bidding war and homes don't continue to appreciate, that doesn't work.
Another way is like you said, pay it down to the 20%. I don't pay more on my mortgage than the minimum. My rate is at 3.25% and I get way more than that for my cash in other ways. To each their own.
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
GreenBob is also the guy who’s bragging about his investment returns under trump. “Even under the dips” he claimed. Meanwhile he’s paying pmi. Jfc. Troomp is gonna troomp.
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
GreenBob is also the guy who’s bragging about his investment returns under trump. “Even under the dips” he claimed. Meanwhile he’s paying pmi. Jfc. Troomp is gonna troomp.
My interest rate was 3%, when I went to refi, rates jumped to over 4%. Plus with closing fees, I was better off paying it in the end. BTW, when you and Hondo by your first home together you’ll know what I mean.
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
GreenBob is also the guy who’s bragging about his investment returns under trump. “Even under the dips” he claimed. Meanwhile he’s paying pmi. Jfc. Troomp is gonna troomp.
I never bragged about my investment returns under Trump. Is there a liberal here that isn't a liar? I just refuted Hondo's claim that banks won't let you borrow from your 401K for a down-payment on a first time home purchase.
And yes my twilio stock is at $113, I bought it at $28 in 17’...so yeah. I made about 80k on it. And you wonder why I didn’t just take that out and pay it off. Well...I have about 6 months left of PMI, and I am getting rid of it 2 years early by paying ahead. And my current rate of return plus tax consequence pretty much makes it a wash, so why waste my time now? Most of the gains have been in the last year.
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
That's why I did an 80-10-10. Never had to pay the mortgage insurance.
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
20% of what? Pmi means you are a credit risk to your lender. I own a sfr property in Pasadena ca. I don’t pay pmi.
Trouble following along?
You obviously have never bought a house. PMI kicks in at under 20% down regardless of credit. My credit isn’t the best...around 770 but good enough. Any home buyer using a FHA or conventional loan will have PMI if under 20% period.
Comments
Pmi means you are a credit risk to your lender.
I own a sfr property in Pasadena ca. I don’t pay pmi.
Apparently
Alert: Freddie and Fannie taxpayer subsidized loan coming your way!
Sorry greenbob, but GayBob is about to delver the white trash trashing of your lifetime!
But yes if you are buying a house in a bidding war and homes don't continue to appreciate, that doesn't work.
Another way is like you said, pay it down to the 20%. I don't pay more on my mortgage than the minimum. My rate is at 3.25% and I get way more than that for my cash in other ways. To each their own.
Jfc. Troomp is gonna troomp.
https://www.mileiq.com/blog/pass-through-tax-deduction/