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Featured Properties

Recently Sold Homes

Featured
505 El Centro Street, South Pasadena, 91030, South Pasadena
  • 1432.00
  • 3
  • 2
  • 1
Featured
5138 Caspar Avenue, Eagle Rock, 90041, Eagle Rock
  • 1166.00
  • 3
  • 1
  • 2
Featured
5120 Hartwick Street, Eagle Rock, 90041, Eagle Rock
  • 1624.00
  • 3
  • 2
  • 2
Featured
1943 Escarpa Drive, Eagle Rock, 90041, Eagle Rock
Featured
4701 Olson Street, Eagle Rock, 90041, Eagle Rock
  • 1236.00
  • 3
  • 1.5
  • 2
Featured
5127 Shearin Avenue, Eagle Rock, 90041, Eagle Rock
  • 1700.00
  • 4
  • 2
  • 2
Featured
5129 Shearin Avenue, Eagle Rock, 90041, Eagle Rock
  • 1346.00
  • 2
  • 2.5
  • 2
Featured
5021 Floristan Avenue, Eagle Rock, 90041, Eagle Rock
  • 539.00
  • 1
  • 1
  • 1
Featured
5034 Mosaic Court, Eagle Rock, 90041, 90041
  • 1845.00
  • 3
  • 2.5
  • 2

Income tax savings is an important benefit of home ownership.

Because of income tax deductions, the government is basically subsidizing your purchase of a home. All of the interest and property taxes you pay in a given year can be deducted from your gross income to reduce your taxable income.

For example, assume your initial loan balance is $150,000 with an interest rate of eight percent. During the first year you would pay $9969.27 in interest. If your first payment is January 1st, your taxable income would be almost $10,000 less – due to the IRS interest rate deduction.

Property taxes are deductible, too. Whatever property taxes you pay in a given year may also be deducted from your gross income, lowering your tax obligation.

Next: Stable Monthly Housing Costs

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