Closing Costs

first time buyers

A Guide to Down Payment Assistance for First-Time Homebuyers

Alex Colley, May 23 2023

Saving for a down payment can be one of the most significant hurdles for first-time homebuyers. Fortunately, there are various down payment assistance programs available that can help bridge the financial gap and make homeownership more attainable. In this blog post, we will guide you through the process of obtaining down payment assistance to...

sellers

Tax implications when selling

Alex Colley, December 26 2019

If you owned and lived in the home for two of the five years before the sale, then up to $250,000 of profit is tax-free. If you are married and file a joint return, the tax-free amount doubles to $500,000. The law lets you "exclude" this much otherwise taxable profit from your taxable income. (the key factor is that on their federal tax returns, t...