John Lemos's (jplemos) Blog

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Mortgage and Lending - Movement Mortgage NMLS# 39179 - NMLS# 613321
RECENT BLOG POSTS
Contrary to popular belief, mortgage interest is not always tax deductible.  Here's the inside scoop:1.  Is Your Home a "Qualified Residence"?Mortgage interest is only deductible if the mortgage is attached to a "qualified residence". Tax payers can generally deduct the mortgage interest on two q...
09/08/2016
The London Interbank Offered Rate (LIBOR) is the primary index used on adjustable rate mortgages in the United States.  It's the interest rate that banks pay to borrow money in the London money markets.  LIBOR is published by the International Continental Exchange (ICE).  It's calculated through ...
09/07/2016
Two Ways to Measure the Break-Even on Refinancing According to recently released estimates, over 8 million American homeowners could benefit from refinancing at today’s low interest rates.  Here are three questions to ask yourself in order to figure out if refinancing makes sense for you: 1 – Int...
08/10/2016
Section 529 of the Internal Revenue Code created a type of college savings plan that known as a “529 Plan”.  The 529 plan allows families to: Invest funds after you’ve paid taxes on them (similar to a Roth IRA) Grow the money tax-free over time (no taxes on dividends or asset appreciation) Withdr...
08/10/2016
Four Questions to Ask Before Choosing a Mortgage or Buying a HomeThese four questions can help you make smarter mortgage and housing choices:Why is it better to buy a home right now vs. renting a home?  Buying a home usually requires more upfront capital, more ongoing expenses and a longer term c...
08/05/2016
How to Improve Your Credit ScoreYour credit scores usually determine the price you pay for your money (your mortgages, your auto loans and leases, your credit cards, business loans, etc.). Perhaps the most significant part of your credit report is your credit score. Credit scores range from 350 t...
07/28/2016
The 90-Day Window for Cash Buyers:  How it Works & Why it MattersCongratulations on paying cash for your home!  I just wanted to make you aware that the IRS gives you a 90 day window to put a mortgage on your property and gain the tax benefits associated with the coveted “acquisition indebtedness...
07/28/2016
How to Get the Primary Residence Capital Gains Tax Exclusion In order to understand capital gain, we first need to understand tax basis. Your tax basis is the cost of buying, building or improving a property. Assume you pay $200,000 for a property. You incur $5,000 in closing costs. Then you spen...
07/21/2016
 Over 30% of homebuyers pay cash when they purchase real estate.  However, this may not be the smartest financial strategy.  Here’s why: When you pay cash for a property, you are missing out on the opportunity to earn a rate of return on that cash. In the illustration below, Option 1 is to pay ca...
07/19/2016
According to recently released numbers from S&P/Case-Schiller, house prices accross the US are up over 31% from the bottom of the market in 2012 (see chart below).  The markets that have recovered the most include San Fransisco, Las Vegas and Detroit.  The markets that have recovered the least in...
07/19/2016
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JohnLemos

Mortgage Loan Officer, NMLS 613321
smartphone(951) 256-0812
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