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This is big news that may impact Seattle home buyers in 2018. The reason I say, “may” is because right now, this is only a proposal, it’s not a bill. I explain everything you need to know about this bill as it relates to home ownership (specifically mortgage interest deductions and capital gains laws) in the 3-min video below.
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Welcome to my Making Cents of the Markets, Episode #45:
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Understanding Trump’s Tax Plan Related To Housing:

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Proposed Tax Plan: Mortgage Interest and Capital Gains Explained

Right now, you can avoid paying capital gains on the sale of your primary residence if you’ve lived in the house 2 out of the last 5 years. Under the new bill, you will be required to reside in that home for 5 out of the last 8 years to avoid paying capital gains (15%-18% tax) on the profits of your sale. Again, I believe this may have a bigger impact than the mortgage interest deduction piece.
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♦️♦️MEDIA MYTH♦️♦️This bill will impact all home owners.
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WRONG. If you currently have a mortgage OR take out a mortgage for less than $500,000, this bill doesn’t apply to you. ALSO, If you currently have a mortgage owing more than $500k, you are exempt from this bill. If passed, the new tax laws will only impact NEW mortgages made after Nov 2, 2017.
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♦️In the end♦️
This is only a proposal at this time.
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♦️Keep this in mind♦️
I can remember president Obama changing things up a ton from 2009-2013 (in regards to housing and the mortgage industry)… AND IT ALL WORKED OUT OK 🙂 (btw, he really messed around with FHA and ppl still use FHA… a lot). I really like what Tony Robbins says, “Too many ppl go through life majoring in minor things.” Change your major. If you don’t like paying taxes, make more money or start a small business.
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As I do more research on this bill, I’ll make a blog post to help you better understand what this means to YOU and whether or not it looks like it will be passed! [As always, I appreciate you!]
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Want To Know More About Mortgage Planning with Dan?


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How to Get Approved For A Home Loan With Dan Keller

We make it easy. I encourage you to reach out to me through email or phone to have a mortgage planning discussion surrounding your mortgage goals and budget. There are so many additional factors that go into qualifying for a Home Loan today, it’s important that you are working with a professional that understands the ins and outs of the process and current market trends.
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To apply for a Home Loan, visit my Mortgage Concierge Page and follow steps one and two.
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I Want To Be Your Mortgage Advisor!

I LOVE connecting with my social media followers and readers! You are the reason I produce this content and share it weekly on Seattle Real Estate Radio 1300am. I can always be reached directly at 425-350-7136 or via email at dkeller@guildmortgage.net
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If you found this information valuable, please share it! If you are a real estate broker and would like more information like this to be shared at your next office meeting, please contact my office to scheduled me!
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More Info On Our Next Home Buyer Class – Home Buying 101 Mixer
Get Pre-Approved With Dan – Apply Now
Monthly Budget With Dan Class – www.BudgetWithDan.com
Download My Mortgage Planning Guide – Dan Keller’s Mortgage Planning Guide
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