What you are referring to is capital gains tax. And yes, usually two or three years is the marker but it is only at a certain cap. I believe in your state it is up $250,000.00 capital gains if you have lived in the home as your primary residence for two of the past 5 years.
Buying a House What’s up with all these people sending me letters, wanting to buy my house? (Orlando, FL area) ( self.RealEstate ) submitted 4 years ago by loffle
There is little doubt that it is easier to get a home mortgage today than it was last year. The mortgage credit availability index (mcai), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years.
"We need to upgrade our technology," Hestrin said, noting that it is too easy for hackers to get into the older systems. He said the problem may be much larger and needs to reach the Board of.
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Florida buyers have lost hundreds of thousands of dollars in home down payments, all because they followed what they thought was their real estate agent’s wiring instructions. Home News
The rate is going to be a little bit higher due to the low credit score. But that is the only way to use both incomes to qualify for the mortgage. If you’d like to try qualifying on just your husbands income then you’d probably get a better rate and you might be able to do a conventional loan. The PMI would be less than on FHA.
If financial need is a test to get the apartment you want to look at, then yes it may be possible that having an interest in a house, or being on a mortgage, could be a problem. Other than that, private landlords may rent to whomever they feel will be able to pay the rent. In some cases, having a house can improve your creditworthiness in.