Thomas Turner

Thomas Turner

Tom is a veteran mortgage officer who is state certified for teaching including to first time home buyers. He supports veterans, students, and those focusing on building and raising credit knowledge and score.

What’s Included In A Mortgage Payment?

Mortgage Payment Where does the money go? A mortgage payment is typically four payments in one: Principle, Interest, Taxes and Insurance or PITI. Each state, city, or property will have specific tax rates, insurance rates and possible home owners’ association dues. For more specifics on your particular area, please feel free to call us at 801-290-6355 and talk to one of our professionals. Principal – The amount borrowed or the amount still owed on a loan, separate from interest. Paying money toward this amount on your mortgage will lower your amount owed. Interest – The return expressed in a percentage earned on a loan. This money is paid to the bank or the servicers managing a home loan Taxes – This is the property tax and will vary by State and City. The company that services your mortgage will collect taxes in your monthly mortgage payment, hold in an escrow… Read more »

2014 Tax Benefits for Homeowners

2014 Tax Benefits for Homeowners The IRS opened its tax filing on January 31. If you’re among the millions of homeowners getting ready to get good with Uncle Sam, I’m sharing some information which you may not have been aware of regarding 2014 tax benefits for homeowners, one of the many reasons why owning your own home vs. renting can be a sound decision. Property expenses Tax breaks for many home-ownership related expenses are legit for any type of property, be it a condominium, single family home, mobile home, townhome, or coop. However, to take full tax advantage of your home and tax benefits, you’ll have to complete the IRS Form 1040 and Schedule A, where you’ll have to itemize your tax-deductible expenses, which is appealing to many homeowners over the option of taking standard deductions. If you plan to itemize here’s are some expenses you can deduct (and some you can’t): Points If you’ve paid… Read more »

Four Reasons to Use a Realtor

So you’re ready to buy or sell a home. There are dozens of reasons to use a realtor; a professional to be on your side; one of the biggest decisions of your life shouldn’t be a do-it-yourself project. Here are some things to consider for reasons to use a realtor: Understanding the Market Whether you’re a buyer or seller it’s nearly impossible to understand true market value and local real estate trends without the benefits of training, experience and resources a professional Realtor can provide. Realtors have access to true market data only accurate local market comps can provide, powerful tools that will ensure you’re getting the best value for your sale or purchase. Many homeowners make the mistake of taking what the internet reports in blind faith, and subsequently lose their deal because of misinformed, out-of-date, or purely inaccurate market data. Navigating the Purchase Offer Don’t make the mistake… Read more »

Life after a Bankruptcy, Foreclosure or Short Sale

The last 5 years have had a substantial impact on the economy.  We plunged into a recession, and millions of people lost their jobs, homes, and many of their luxuries.  This might have been a family member, friend or heaven forbid, it could have been you. Lets see if this story might sound familiar to you:   My wife and I were watching her uncle’s children while they were away on a cruise.  They live in a wonderful 4 bedroom house, but it is a rental.  Normally I wouldn’t think much about it except that her uncle makes 6 figures a year, his wife also has income working part time while their children are at school, and they have most of their debt under control at this point as I understand it.  How is it that they do not own their own house? Several years ago, they just happened to… Read more »