Yoshi’s Real Estate

07/18/2019

Capital Gain Exclusion
If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse.

Qualifying for the Exclusion
You must meet both the ownership test and the use test. You're eligible for the exclusion if you have owned and used your home as your main home for a period aggregating at least two years out of the five years prior to its date of sale. You can meet the ownership and use tests during different 2-year periods. However, you must meet both tests during the 5-year period ending on the date of the sale. Generally, you're not eligible for the exclusion if you excluded the gain from the sale of another home during the two-year period prior to the sale of your home.

Reporting the Sale
If you receive an informational income-reporting document such as Form 1099-S.pdf, Proceeds From Real Estate Transactions, you must report the sale of the home even if the gain from the sale is excludable. Additionally, you must report the sale of the home if you can't exclude all of your capital gain from income.

There are some exceptions or restrictions, please ask details to Yoshi.

07/18/2019

07/17/2019

FHA Loan
There is a way that a home can purchase with a down payment of 3.5%. We can purchase a home with a down payment of 3.5% by using the FHA loan. The requirements of FHA loans are as follows:
FICO® score at least 580 = 3.5% down payment.
FICO® score between 500 and 579 = 10% down payment.
MIP (Mortgage Insurance Premium ) is required.( 0.5% x Loan Amount / 12Month)
Debt-to-Income Ratio

07/08/2019

About Credit Report
It seems that we usually need a credit score of 720 or more when making a home loan.
Usually, these points seem to be represented by the total number of points obtained by adding and subtracting records in the past 2 years.
In order to keep a good credit score, payment records such as credit cards and bank transaction records are greatly affected, and some delay and non-payment records seem to be big minus points.
In general, a good credit score seems to be built in the shortest by having 30% credit card usage and repaying in bulk every month.
What is your score?
Real estate is the shortest investment to build a large personal asset and a stable life.
Let’s do our best so that we can build relief and everyday life as fast as possible!

07/02/2019