According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2017 at 57% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable.
Disclaimer: This guide is not meant to be a resource for tax advice but instead a resource for basic information concerning only certain aspects of the new tax code and how they may impact the real estate market. You should get tax advice from your accountant or tax preparer who will explain how the entire tax code will affect your personal return.
The Federal Housing Finance Agency (FHFA) is raising the baseline conforming loan limit for 2018. The conforming loan limit is increasing nationwide effective January 1, 2018. Loans locked in December 2017 but closing in 2018 would be eligible.
