Sentences with phrase «as your primary residence for»

To qualify, you must have owned and used the home as a primary residence for at least two years out of the five years leading up to the sale.

I expect to use the own the home as my primary residence for 5 years and then use it as a rental property.

You are considered to have permanently left the home if you do not live in it as your primary residence for more than 12 consecutive months.

When you sell the property or no longer occupy your home as your primary residence for a period of 12 months or longer, or fail to maintain the property taxes and homeowners insurance.

You used the home as your primary residence for a total of at least two years in that same five - year period.

You also need to have the home you intend to sell as your primary residence for at least two years of that same five - year period.

Example: You moved to a long term care facility and don't occupy the property as your primary residence for 12 consecutive months.

When it comes to credit qualifications for a second home, Crouse says, «Second home credit requirements are typically the same as primary residence for conventional lending.»

Of course, some rules apply, like the one mentioned above — the person or couple claiming the exclusion needs to have lived in it as a primary residence for at least two of the five years preceding the sale.

You must have lived in New Orleans as your primary residence for at least 5 years or have been born in New Orleans.

When you sell the property or no longer occupy your home as your primary residence for a period of 12 months or longer, or fail to maintain the property taxes and homeowners insurance.

@Account Closed IRC sec 121 states that as long as you use the property as your primary residence for an aggregate period of 24 months in the past 5 years, you qualify for the capital gains exclusion.

I'm looking to get into my first brrrr deal as a primary residence for the bay area, but concurrently looking for cash flow streams as I am priced out.

Once you have lived in and used it as your primary residence for at least 24 months you can sell the property and qualify for the 121 tax - free exclusion.

Section 121 of the Internal Revenue Code («121 exclusion») provides that property held and used by you as your primary residence for at least 24 months out of the last 60 months can be sold and you can exclude from your taxable income up to $ 250,000.00 in capital gains if you are single (per homeowner / person) and up to $ 500,000.00 in capital gains for a married couple filing a joint income tax return.

The only requirement with this strategy is that you move into the investment property (i.e. convert it from investment property into your primary residence) and live in and use it as your primary residence for at least 24 months.

A celebrity actor or actress; singer; musician; or model; and desire to buy, sell, or lease a house or condo as a primary residence for yourself or a family member; or a vacation home or investment property anywhere in the world;

You are considered to have permanently left the home if you do not live in it as your primary residence for more than 12 consecutive months.

The National Realtors» survey found only 40 percent of Chinese foreign buyers intend to use their U.S. home as a primary residence for their recently immigrated family.

Buy it as a primary residence for less than 25 % down.

Not exact matches

• 35 % of retirees have less than $ 1,000 in savings and investments that could be used for retirement, not counting their primary residence or defined benefits plans such as traditional pensions; 53 % have less than $ 25,000.

I plan: 5 % — swing for the fences 10 % — save for big blue chip bargain buys that pop up throughout the year 10 % — VNQ, other than our primary residence, I have no exposure to RE, so this should help with that 15 % — VXUS, international index exposure 60 % — VTI, total stock market index (as I get older, I will be also adding BND or a bond fund, but at 32, I'm working on building equities!)

This credit is available for primary residences, as well as secondary residences.

For a home to be eligible for a HECM reverse mortgage, the borrower must live in it as their primary residenFor a home to be eligible for a HECM reverse mortgage, the borrower must live in it as their primary residenfor a HECM reverse mortgage, the borrower must live in it as their primary residence.

In general, to qualify as an Accredited Investor, individuals must have a net worth of more than $ 1 million (excluding their primary residence), or gross income for each of the last two years of at least $ 200,000 ($ 300,000 jointly with their spouse) with the expectation of a similarly qualifying income during the current year.

Outside of our primary residence, which accounts for about 30 % of our net worth, most of our net worth is in equities as well.

The rules define an «Accredited Investor» as anyone who earned income that exceeded $ 200,000 (or $ 300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, or has a net worth over $ 1 million, either alone or together with a spouse (excluding the value of the person's primary residence).

A final parenting plan includes the designation of a parent as primary custodian, the naming of the physical residence of the child, the details about shared financial responsibilities to provide for the child, and factors related to the physical and mental well - being of a child.

An order for joint custody may specify one home as the primary residence of the child and designate one parent to have sole power to make decisions regarding specific matters while both parents retain equal rights and responsibilities for other matters.

are easy enough perhaps for the federal government to track, but each one is generally complicated by a related question such as «Is this your primary residence?».

Assemblyman Francisco Moya, a Queens Democrat who's running for the NYC Council, simultaneously claimed primary residences at two different addresses to get a mortgage and a tax break — prompting his ex-con opponent, former Sen. Hiram Monserrate, to blast him as a «liar» and a «fraud.»

In the event both husband and wife are deceased, the exemption can be continued for the veteran's dependent mother, father, child or children under 21 who have legally received the property and who use it as their primary residence.

(c) False information in registering or voting; penalties Whoever knowingly or willfully gives false information as to his name, address or period of residence in the voting district for the purpose of establishing his eligibility to register or vote, or conspires with another individual for the purpose of encouraging his false registration to vote or illegal voting, or pays or offers to pay or accepts payment either for registration to vote or for voting shall be fined not more than $ 10,000 or imprisoned not more than five years, or both: Provided, however, That this provision shall be applicable only to general, special, or primary elections held solely or in part for the purpose of selecting or electing any candidate for the office of President, Vice President, presidential elector, Member of the United States Senate, Member of the United States House of Representatives, Delegate from the District of Columbia, Guam, or the Virgin Islands, or Resident Commissioner of the Commonwealth of Puerto Rico.

Two veteran Democrats are challenging Mr. de Blasio in the primary: Tony Avella, a state senator from Queens who has challenged the mayor's approach to homelessness and fought for a Staten Island family trying to keep a large pig as a pet; and Sal Albanese, an Italian - born lawyer and former City Councilman from southwestern Brooklyn who, in his third mayoral run, has argued for a new tax on nonprimary residences — a «pied - à - terre» tax — to help fund affordable housing.

Under state and city rent regulations, tenants can continue renewing the lease in their rent - stabilized apartments for as long as they use it as a primary residence, and landlords can increase rent only by an annual percentage set by a city board.

If Superdate offers securities in the United States through Regulation D, Rule 506 (c) in the future, the offer and sale of such securities will only be made to «Accredited Investors,» which is generally defined for natural persons as persons having a net worth of over $ 1 million (exclusive of the value of their primary residence) or gross income in excess of $ 200,000 individually or $ 300,000 jointly with a spouse in each of the last two years with the same expectation to match or exceed such thresholds in the current year

Children and youth who have a primary nighttime residence that is a private or public place not designed for or ordinarily used as a regular sleeping accommodation for human beings.

If you are looking for a way to pay off your existing mortgage to free up cash, you may be eligible to get a reverse mortgage loan to leverage your home's equity and pay off your existing mortgage.2 Reverse mortgages, unlike forward mortgages, do not require monthly mortgage payments for as long as you live in the home as your primary residence, maintain it in accordance with HUD guidelines, and pay your property taxes and homeowner's insurance.1

g) Properties acquired by inheritances within the past 12 months are eligible for a cash - out refinance transaction provided they have been occupying the property as their primary residence since the inheritance.

This program allows you to get a mortgage for the amount of the purchase price plus the funds needed to make repairs and improvements to a house you plan to live in as your primary residence.

The borrower must also dwell in the home as the primary residence and are required to get FHA approved counseling prior to being approved for the loan.

While I was trying to get my current primary residence refinanced, I was told that I will not qualify for refi as a primary residence in lieu of the ratified contract on another house as primary residence.

Assistance up to $ 10,0002 is available for the purchase or purchase transaction with the rehabilitation of a home to be occupied as a primary residence.

They must continue to live in the home as their primary residence, pay for homeowner's insurance and property taxes, and maintain the home according to the Federal Housing Administration (FHA) guidelines.

However, if I refinanced my current primary residence as an Investment property, could I be approved for another primary residence through FHA and avoid the distance rule... assuming I have 6 months reserves and income to cover both PITI?

For a home to be eligible for a HECM reverse mortgage, the borrower must live in it as their primary residenFor a home to be eligible for a HECM reverse mortgage, the borrower must live in it as their primary residenfor a HECM reverse mortgage, the borrower must live in it as their primary residence.

An accredited investor is defined by the Securities and Exchange Commission as a person with earned income that exceeds $ 200,000 — $ 300,000 for married couples — per year in each of the previous two years, or someone with a net worth of over $ 1 million, not counting his primary residence.

For each property you own and list on your personal taxes, enter the type — primary residence, investment property, undeveloped land, etc. — address, date of purchase, original cost and the present market value — on the as - of date.

Stops occupying the home as their primary residence or leaves the home for more than 12 consecutive months.

California, for instance, allows qualified disabled veterans to receive a property tax exemption on the first $ 196,262 of their primary residence if their total household income does not exceed $ 40,000 and the veteran is 100 percent disabled as a result of service.