For those hoping to buy a home with a mortgage, property tax increases can reduce their debt-to-income ratio, and thus the amount they qualify for. But underwriters only factor in current property tax rates, not future increases. So existing homeowners can be caught off guard when there is a gap between what is held in escrow and tax bills that come due.
Most conversations surrounding the affordability crisis have focused on headline-grabbing home price increases, bidding wars, racial disparities in home appraisals and a lack of supply. But a property tax reckoning is coming, even if its arrival date is at some distant point in the future.
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✅ CHECK OUT OUR OTHER VIDEOS ON REAL ESTATE, FINANCING, & MONEY TALK!
https://youtu.be/_gPoZ4ux9y8 : Another $15K first-time homebuyer tax credit bill emerges & Eviction Report
https://youtu.be/aa22E4khCgI : The Impact of The Federal Eviction Moratorium Extension until October
https://youtu.be/TXcGgXZYfqg : Hiring a Home Inspector with Experienced Training And Certification Will Save you Thousands
https://youtu.be/1aO5_Ft6Gyw : Here Are The Newest And Best Locations To Buy A Home In Overpriced Las Vegas.
https://youtu.be/-uw2HbPbO8c : Vegas Covid Restrictions Opening Up And How To Land A Home In A Seller's Market?
https://youtu.be/B3-sw_jfla8 : Things To Know Before Buying/Moving To Las Vegas And Americans
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