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Benefits to Owning a Home

Pride of Ownership

Unlike renting, your monthly payments will not go to a landlord, but towards the ultimate ownership of your home.

Retirement Savings

Long-term home ownership provides financial security for retirement through the growth of equity and the ability to live
rent-free once you own your home free and clear.

Property Appreciation

  • Historically, the average value of a home appreciates yearly, meaning your home value increases
    with each passing year.
  • You may be able to benefit from the ability to sell your home for a profit if you decide to move.

Stability

Rental rates fluctuate far more often than mortgage interest rates, which make owning your home a more secure option in
terms of future pricing.

Tax Deductions*

  • You can deduct home mortgage interest on the first $750,000 ($375,000 if married filing separately) of your mortgage
    balance. The deduction only applies if your mortgage was to buy, build or substantially improve your home.
  •  State and Local Property taxes that you paid (up to $10,000) are tax deductible.
  • You must elect to itemize your taxes to claim these deductions.
  • This is a major tax advantage for home owners that renters do not receive.

Tax-Free*

  • If you sell your primary home, you may exclude the profit on your home from your federal taxable income (gains).
  • The exclusion is limited to $250,000 for individual taxpayers or $500,000 if married filing jointly.
  • Consult a tax professional for further details as certain exclusions and eligibility requirements apply.

Tosh Pence
Loan Consultant
NMLS# 1585560 • FL
5462 Village Drive
Rockledge, FL 32955
321-508-0483
tosh.pence@caliberhomeloans.com
www.caliberhomeloans.com

Kim Tillett | One Sotheby’s International
Realty
Broker Associate
301 Ocean Ave
Melbourne, FL 32951
321.446.9035
kimtillett@gmail.com
TheKimTillettTeam.com

Caliber Home Loans and any above mentioned companies are not affiliated. Caliber Home Loans, Inc., 1525 S. Belt Line Rd, Coppell, TX 75019. NMLS ID#15622 (http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/15622). 1-800-401-6587. Copyright © 2020. All Rights Reserved. Equal Housing Lender. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. If you are refinancing your existing loan, your total finance charges may be higher over the life of the loan. Other restrictions and limitations apply. (12970)

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