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Featured Properties

Recently Sold Homes

Featured
927 Orchard Drive, Burbank, 91506, Burbank
  • 1258.00
  • 3
  • 2
  • 2
Featured
1842 W 22nd Street, 90018, Los Angele
  • 1932.00
  • 4
  • 1.5
  • 2
Featured
2034 Delrosa Drive, Eagle Rock, 90041
  • 1804.00
  • 4
  • 2
  • 2
Featured
5063 Montezuma Street, Highland Park, 90042, Highland Park
Featured
2180 Brigden Road, Pasadena, 91104, Pasadena
  • 2165.00
  • 4
  • 2
  • 2
Featured
2515 Kerwin Place, Eagle Rock, 90065, Eagle Rock
  • 1750.00
  • 3
  • 2
  • 2
Featured
5921 Annan Way, Highland Park, 90042, Highland Park
  • 1020.00
  • 2
  • 1
  • 2
Featured
2109 Laverna Avenue, Eagle Rock, 90041, Eagle Rock
  • 1144.00
  • 2
  • 1.75
  • 1
Featured
1539 Garden Street, Glendale, 91201, Glendale
  • 1123.00
  • 2
  • 1
Featured
2747 Delor Road, Glassell Park, 90065, Glassell Park
  • 1235.00
  • 2
  • 1
  • 2
Featured
1537 Silverwood Drive, Eagle Rock, 90041, Eagle Rock
  • 1893.00
  • 3
  • 2
  • 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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