Asked by Betsy, Philadelphia, PA • Sun Feb 10, 2008
I can afford up to about $800/month in mortgage or rent (a little more if heat is included) and would like at least a 2 bedroom. I have plenty of money saved for at least 20% downpayment, as well as toward points for lowering my interest rate & I have excellent credit. My income is under $30,000 though. Anyway, my main confusion is that I just don't understand the tax benefits from owning a home and how much I might make selling the house in 4-5 years. Thank you.
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