Sentences with phrase «qualify as a second home»

You may be wondering, «Does my RV really qualify as a second home?»

To qualify as a second home, the property must also be far enough away.

Not exact matches

As long as rental income from the property is not used to qualify and the borrower continues to occupy the property as their second home, it is not considered «rental property» and the loan is eligible as a second homAs long as rental income from the property is not used to qualify and the borrower continues to occupy the property as their second home, it is not considered «rental property» and the loan is eligible as a second homas rental income from the property is not used to qualify and the borrower continues to occupy the property as their second home, it is not considered «rental property» and the loan is eligible as a second homas their second home, it is not considered «rental property» and the loan is eligible as a second homas a second home.

Juventus» progress hadn't quite been so smooth: they'd lost away at Newcastle United in the first group stage, then qualified as runners - up in the second after losing at home to Deportivo la Coruna, and home and away against Manchester United.

The home crowd were delighted with the French team's ride in the men's team pursuit qualifying, as the quartet set the fastest qualifying time, a full four seconds quicker than their nearest rivals.

But just as it looked like Linfield would have to settle for a draw, Stewart rounded the keeper to slide the ball home and give his side a valuable lead going into the second leg where they will aim to secure a second qualifying round meeting with Celtic.

Fellows Qualifies Second at Home Track BOWMANVILLE, Ontario — Race fans were seeing triple today at Mosport International Raceway as three Corvettes battled for the GT1 pole for Sunday's Grand Prix of Mosport.

Thus, second homes and vacation homes do not qualify, as neither property is the borrower's primary residence.

If you are purchasing the second home to use as a rental property, you may qualify for tax deductions for your expenses.

As an individual, you will never come out ahead (from a tax perspective) by borrowing money to buy things that qualify for tax deductible interest (whether its your primary home, a second home, rental property, or even a boat).

Note: When qualifying for a mortgage on a second home the lender will use all sources of your income and all consumer debts (loans, credit card payments) and monthly obligations for housing such as property taxes, mortgage payments on any properties and strata fees (if applicable).

Except for fuel cells (which must be installed in your primary residence to qualify), the credit can be used for items installed in vacation or second homes as well.

The purchase of a vacation property or a second home will qualify as replacement property in a tax - deferred exchange transaction if the following safe harbor requirements are met:

The guidance provides specific safe harbor language that clarifies when your vacation home, second home or primary residence that was converted to investment property would be considered as «qualified use property» and therefore qualify for 1031 Exchange treatment pursuant to Section 1031 of the Internal Revenue Code.