Mortgage Blog

Tax reforms bills updates(Real Esate Related) -- Important

November 16th, 2017 8:57 PM by Eric Fang

1) Lowers the mortgage interest deduction cap from $1 million to $500,000

2) Eliminates the mortgage interest deduction on second homes;

3) Eliminates state and local income tax deductions;

4) Caps property tax deductions at $10,000;

5) Extends the capital gains exclusion qualification period from two years to five years,
which further locks up badly needed inventory.

This will affect the real estate market a little bit in the bay area.
Posted in:General
Posted by Eric Fang on November 16th, 2017 8:57 PM



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