Home Mortgage Disclosure Act

FFIEC Home Mortgage Disclosure Act --- ABOUT HMDA: HOW TO FILE: PUBLIC DATA: REPORTING RESOURCES: SEARCH SITE INDEX PDF HELP CONTACT US PRIVACY POLICY QUICK LINKS Rate Spread Calc Geocoding System FAQs Data Order Form Aggregate Report Disclosure Report National Aggregate Census Reports CRA Suppl Reg C Amend. Welcome to the FFIEC's Home Mortgage Disclosure Act (HMDA) web site. Information is organized into four categories: About HMDA Learn about the history and regulation behind HMDA How to File Find file specifications, software and various resources for reporting HMDA data Public Data Access on-line reports and ordering information for HMDA public data Reporting Resources Quick reference to reporting resources and assistance. WHAT'S NEW The 2006 HMDA Data Entry Software is available. Asset threshold increase for CY2006. FAQs updated with Type of Purchaser. FFIEC issues additional guidance on HMDA reporting . FAQs updated with Temporary Financing. 2006 Edits and File Specs are available. Corrections for 2004 HMDA Aggregrate and Disclosure data are available. Press Release announces the availability of 2004 HMDA data. -MUST READ. Data Collection Procedure Change -MUST READ. 2005 Census Data Geocoding System is now updated with 2005 census information. The 2000 CRA/HMDA Reporter is now available. This newsletter provides information on various topics to assist in the collection and reporting of CRA and HMDA data. It's a MUST READ! -- An August 8, 2000 Press Release announces the availablility of data about 1999 mortgage lending activity, National Aggregates , MSA Aggregate and Disclosure Reports . --

Sell House

SELL THIS HOUSE ~ HOME -- Tulsa, OK--Nicki Unertl Nicki, Laurie, and Laurie's two kids have lived in their three-bedroom Tulsa home for six years. It's time for a move to the country, so they ve got to get their place ready to sell. Homes in this neighborhood usually sell within eight days, but not theirs! So what's the problem? Nicki's preference for dark colors is reflected in the living room, dining room, and kids' rooms. The whole house needs to be brightened up. Ashley's room is a magenta nightmare, and with its baseball theme, John's room could pass for Yankee Stadium. more » See what they did » Want to see your home on Sell This House? Click here to find out how. REMIND ME TO WATCH Would you like to receive special updates, reminders, and related info? Then sign up! Watch the preview -- This Old House meets Candid Camera in SELL THIS HOUSE™ SELL THIS HOUSE™ gets inside the mind of the buyer and the heart of the seller with real life experiences and great advice on how to prepare your house for the market. Each week features homeowners desperate to sell and prospective buyers secretly videotaped as they express their observations upon first seeing the house. Enter a real estate and home decoration expert who recommends changes. In the end, the house is transformed (on a budget) and the buyers are brought back. Will the house sell? For how much? To whom? You'll learn the answers as participants experience the ups and downs of SELL THIS HOUSE™.

Rental Property How much

Selling Your Rental Property Intuit Home Intuit Products Support | Order Status | Shopping Cart Home Online Products Desktop Products Business Tips & Resources Sign In Automatic Renewal My Downloads Tax Tips & Topics Business Taxes Education & Taxes Employment Taxes Family & Taxes Homeowners & Taxes Investments & Taxes Retirement & Estate Taxes Tax Law & the IRS Tax Planning & Savings Tax Prep & Filing E-mail this Print this Selling Your Rental Property How much money am I going to make, after taxes, when I sell my rental property? Are you finally selling your rental property? Was dealing with that last tenant just more than you can stand to go through again? Did you just hear that the vacant land next to your property will be developed into a state college causing your rental property to realize a 10-fold increase in value? Are you approaching retirement and eager to liquidate your investment in order to travel the world, or just relax and take it easy? After finding a buyer and discussing a price, you may wonder what the sale will cost you in taxes and what your after-tax cash flow will be. Before you close the sale, then, you should figure out how much of your proceeds will go to Uncle Sam and how much you will be able to keep. You want to know how much cash you can expect to flow through your hands, after paying fees, costs, and taxes. How can I figure my gain ? Is my gain taxed as ordinary income or capital gain ? How do I report the sale ? What is my after-tax cash flow ? How Can I Figure My Gain? The amount you get for your rental property is the gross sales price. The first step in calculating your taxable gain is to figure out your net sales price. 1. Subtract All Your Selling Costs from the Gross Sales Price. You'll need a copy of your closing or settlement statement at hand to help you identify the costs involved in selling the property. But don't just assume that all costs on your closing statement can be considered selling costs . Pull out any rental expenses. Your closing statement may include items that were prepaid by you, such as property taxes, insurance, or homeowner's association fees. It may also include items that remain unpaid by you as of the sale date, such as rental deposits or property management fees. These items are ordinary and necessary rental expenses that you should report as part of your rental income or loss on Schedule E rather than as part of your property sale. After filtering out the rental items, add up all the selling costs; such as: Commissions on the sale Document recording costs Legal fees related to the sale Survey fees Title fees or costs Transfer fees Now, subtract your total selling costs from your gross sales price. The result is your net sales price. For example, if you have a total selling cost of $25,400, and your gross sales price is $550,000, your net sales price is $524,600. But how much of the net sales price is your profit, or taxable gain? 2. Subtract the Cost of the Property from the Net Sales Price. To figure your profit, or taxable gain on the sale, you need to subtract the cost of the property from the net sales price. But, naturally, adding up all your costs can take a little work. You need to know how much the property has cost you, starting way back when you bought it, and proceeding through the years as you made improvements (costing your more money), or took deductions for depreciation over the years (reducing your cost). The result is called your adjusted basis, because it has been heavily adjusted over the years, and it forms the basis of any calculation of profit or loss. (For more details, see The Tax Aspects of Selling Your Home . Subtract your adjusted basis in the property from the net sales price, to get your taxable gain. Example: Sally owns a rental property that she originally purchased for $320,000 (of which the portion allocable to land is $100,000), and over the years she has taken depreciation deductions of $115,667 for this property. She is considering an offer to sell the property for $450,000. She estimates that the selling costs will include real estate commissions of 6 percent and other costs of 1 percent of the sales price. Sally's net gain on the sale would be $214,167, calculated as follows: Gross sales price $450,000 Less selling costs at 7 percent 31,500 Net sales price $418,500 Less adjusted basis: Cost basis $320,000 Less depreciation allowed 115,667 Adjusted Basis 204,333 Net gain $214,167 Is My Gain Taxed as Ordinary Income or as a Capital Gain? When you sell a property you've owned for more than a year, the gain (the selling price less your selling costs and your adjusted basis in the property) is taxed at capital gains rates, which are lower than the regular income tax rates. The particular capital gains rate that's used depends on several factors. Most capital gains on sales of rental property are taxed at 15 percent but any gains due to depreciation you have already taken are taxed at 25 percent. Ordinary income, on the other hand, can be taxed with rates as high as 35 percent in 2004. Therefore, it's important to understand how much of your gain will be taxed at ordinary income tax rates and how much will be taxed at capital gains rates. Note: The tax rates addressed here are federal taxes rates only. Any state taxes that may also be due are in addition to the federal taxes. For Property Purchased in 1987 or Later If your property was purchased in 1987 or later: all of your gain will be considered capital gain, but there's a catch: while most long-term capital gains are taxed at a maximum rate of 15 percent, any portion of your gain that's attributed to any depreciation taken on your property is taxed at a special maximum rate of 25 percent. This applies to all depreciation taken on the property. (Note: Beginning in 1987, the only kind of depreciation you could take on the property was the straight-line method). Example: Continuing our example in the last section, Sally placed her rental property into service as a rental in 1988. She decided to depreciate her property on the straight-line basis over 27.5 years, so her total depreciation deductions from 1988 through 2003 amounted to $115,667. Of her $214,167 gain, $115,667 would be taxed up to the special 25 percent capital gains rate for depreciation and $98,500 would be taxed at the 15% capital gains tax rate. For Property Purchased Before 1987 If you acquired the property before 1987, the ordinary income portion of a gain on the sale of Section 1250 property consists of any additional depreciation taken on the property. Additional depreciation is accelerated depreciation that goes beyond what the depreciation would have been if it had been calculated using the straight line method. If your property was purchased before 1987 for residential rentals, additional depreciation on property acquired before 1987 is calculated for all years after 1975. For nonresidential rentals, additional depreciation is calculated for all years after 1969. The total additional depreciation (which is taxed at ordinary income tax rates) is deducted from the net gain in order to determine the amount of the gain subject to capital gains rates. This process is what's known as depreciation recapture. Essentially, because you were able to deduct depreciation expenses from ordinary income while you owned your rental property, you now pay the price at the time of sale: part of the gain on your property is taxed at ordinary income tax rates, in this case, your additional depreciation. Example: Joe purchased his rental property in 1985 for $320,000. He depreciated his property on an accelerated basis over 18 years, resulting in total depreciation deductions of $235,000. Had he used the straight-line method to calculate depreciation, his depreciation deduction would have been $229,000. Under the rules applicable to property purchased before 1987, his additional depreciation is $6,000. Assuming he sold his property for $418,500, of his $333,500 gain, $6,000 would be taxed at his ordinary tax rates and $327,500 would be taxed as capital gain. For more information see, FAQ on Capital Gains . Giving a Nod to Section 1231 Rental real estate, held for more than one year, falls under the definition of Internal Revenue Code Section 1231 and is therefore called Section 1231 property . A gain from the sale of section 1231 property can be either ordinary income to you (as a result of additional depreciation recapture if the property was purchased before 1987) or capital gain, or both. Section 1231 gains that are not subject to depreciation recapture (which is ordinary income) are long-term capital gains. Good news: If you have a loss on the sale of Section 1231 property, the loss is an ordinary loss, meaning that it reduces your ordinary income, not your capital gains income. Section 1231 gives you the best of both worlds, because gains are long-term capital gains (after depreciation recapture) and losses are non-capital, or ordinary, losses. How do I Report the Sale? You report the sale of a rental property on IRS form 4797: Sales of Business Property. The gross sales price, cost or other basis plus expenses of sale, depreciation allowed or allowable, adjusted basis, and total gain are all reported on Page 2, Part III, lines 20 through 24. If the property is Section 1250 property (which is just about any rental property), any ordinary income recapture is calculated on line 26. The capital gains portion of your gain is determined by subtracting the additional depreciation from the total gain. These amounts are carried to page 1 of Form 4797, where this capital portion is netted with other Section 1231 transactions. Transfer the net of Section 1231 transactions from page 1 of Form 4797 to Form 1040, Schedule D, Capital Gains and Losses. Put the ordinary income portion of your gain on line 14 of Form 1040, while your net capital gains from Schedule D are carried to line 13a of Form 1040. If your sale results in a loss, the entire loss is carried to line 14 on Form 1040 and is available to offset income from other sources. What is My After-Tax Cash Flow? Now that you have calculated your tax, you can calculate your net cash proceeds from the sale of the property. Enter your net sales price. Subtract any outstanding loan, to get a subtotal. Multiply the net gain (calculated in the previous example) by the capital gain rate of 25 percent on the part of the gain that represents depreciation and 15 percent on the rest of the gain. Subtract that figure from the subtotal, to see your net cash flow. Example: In our example, assume that Sally had decided she would not sell the rental property unless she could wind up with at least $200,000 cash after taxes and loan repayment. Assume she had an outstanding loan of $125,000 and other taxable income in her return. Her capital gains rates are affected by her other income. She calculates her after-tax cash flow as follows: Net sales price $418,500 Less repayment of the outstanding loan 125,000 Subtotal $293,500 Capital gains taxes at up to 25% & 15% $43,692 Net cash flow (before state taxes) $249,808 Based upon the above calculation, Sally would prefer to sell the rental property because her after-tax cash flow meets her requirements. Caution: Different states have different rules for taxing capital gains. Here, we have not considered the state tax impact. But, before making the sale, you should familiarize yourself with the state tax rules. If the property is located in a state other than your state of residence, it may be wise to study the rules of both the state in which the property is located and your state of residence, because both states may be very interested in your gain. For more on capital gains, see FAQ on Capital Gains . 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Investment Property Calculator Our

Investment Property Friday, 30.12.2005 Calculate Everyday Banking Ways to Bank E-Commerce Solutions Borrow International Trade Property Finance Plant, Equipment and Vehicle Finance Information Debtor Finance Apply For... Search this site Go | BNZ Home | Site Map | Terms & Conditions | Contact Us | Rates & Fees | Careers | Investment Property Calculator Our investment property finance calculator is a unique tool developed to help you as an investor test the affordability of property investments you might be considering. It can help you to find out what level of surplus or deficit your "financed" property investment may generate. To move between fields use your mouse, or the Tab button on your keyboard. For further help on using the calculator, just read our instructions . Enter the property's annual rental income: $ Enter the yield you wish to obtain: % Purchase Price: $ ~ result Enter either: loan amount as % of purchase price: Or amount of cash or equity you wish to contribute: 30% 35% 40% 45% 50% 55% 60% 65% 70% 75% $ Loan Amount: $ ~ result Loan Repayments: Interest Only Principal & Interest Interest Rate: 6.00% 6.25% 6.50% 6.75% 7.00% 7.25% 7.50% 7.75% 8.00% 8.25% 8.50% 8.75% 9.00% 9.25% 9.50% 9.75% 10.00% 10.25% 10.50% 10.75% 11.00% 11.25% 11.50% 11.75% 12.00% Repayment based on year term Annual Repayment: $ ~ result Surplus: $ ~ result Surplus return on cash contribution: % ~ result How much will be owing on my loan after years? Amount Remaining: $ ~ result How to use the calculator: Rent is the source of income from any investment property that you may be considering. Key in the rental income that your proposed investment will generate. Yield is the rate of return you expect to achieve from any property investment you may wish to make. Key in the yield that you believe is an appropriate return on your investment. The combination of the rental income together with the yield you expect will determine the amount you will need to pay for the property to satisfy your return expectations. Enter the cash (equity) you would like to contribute to the investment; or Select the loan amount as a percentage of the purchase property you are considering, to test the tolerance of your investment compared to debt levels. Which loan repayment option would you prefer? Interest only or principal and interest? Select an option. Interest rate? Select an interest rate option , or call a property finance lending manager for a quote. Term? The term of your loan will also affect the level of debt servicing that your financed investment property can sustain. Select a term over which you wish to repay your debt. What the calculator will tell you: The price you are prepared to pay for the property you are considering, based on the rental income from the property and the return (yield) you expect on your investment. The total of the annual payments to service the debt on this proposition, based on the percentage you have considered borrowing against the purchase price, the repayment option you have selected and the term you have chosen. The cashflow surplus before any overheads, depreciation, miscellaneous costs and taxation. What it won't tell you: The quality of the rent. Before you make any investment, you must independently check that the tenant(s) in the property you are considering purchasing have a sound track record, and can be relied upon (in your opinion) to pay the rent. The quality of the property. Check with a registered valuer about the quality of the investment you are about to make. Ask a property finance lending manager for some guidance on how to choose a registered valuer to help you in making a prudent decision. The quality of your investment decision. Once again, we recommend you seek guidance from a registered valuer, a solicitor and an accountant in helping you make a sound decision. Ask a property finance lending manager for some guidance on how to choose your professional advisors. DISCLAIMER The calculator is provided for general information purposes only and does not form advice given by Bank of New Zealand. Bank of New Zealand accept no liability whatsoever for the consequences of any use of the calculator which shall not constitute an offer of finance. back to top © Bank of New Zealand 2001. Use of the information contained on this page is subject to our Terms and Conditions

Land Loans Home Equity

Delta Community Credit Union :: Mortgages :: Lot/Land Rates New Page 1 | Technical Support | Contact Us | Apply Online | DECU Service Locator | Signup Reset Access Code Tab Menu Bar Loan Center Mortgages Online Banking Account Services Join DECU Home > Mortgages > Lot/Land Rates 1st Morgages Mortgage Products Online Application Rate Tracker 1st Mortgage Rates Purchase Money 2nd Rates Mortgage Calculators Home Equity Loans Home Equity Products Interest Only Lot/Land Loans Home Equity LOC Rates Home Equity Fixed Rates Lot/Land Loan Rates Lot/Land Rates Effective Date: 12/01/05 Loan Program Term Interest Rate Annual Percentage Rate APR*** Other Requirements 5 Yr. Fixed Rate 5 6.875% 6.875% Maximum LTV* 80% 7 Yr. Fixed Rate 7 7.000% 7.000% Maximum LTV* 80% 10 Yr. Fixed Rate 10 7.250% 7.250% Maximum LTV* 80% 5 Yr Balloon** 5 7.500% 7.500% Maximum LTV* 80% 5 Yr. Fixed Rate 5 7.125 % 7.125% Maximum LTV* 100% Loan amounts up to $75,000 7 Yr. Fixed Rate 7 7.250 % 7.250% Maximum LTV* 100% Loan amounts up to $75,000 10 Yr. Fixed Rate 10 7.500% 7.500% Maximum LTV* 100% Loan amounts up to $75,000 5 Yr Balloon** 5 7.750% 7.750% Maximum LTV* 100% Loan amounts up to $75,000 Automatic Loan Payment Withdrawals: Your loan payment can be payroll deducted or automatically transferred from your DECU checking or savings account or an outside institution. The payment frequency can be semi-monthly or monthly. Rates are subject to change without notice. The above loan product information is applicable as of the effective date shown. * LTV - The relationship between the amount of the mortgage loan and the value of the real property expressed as a percentage. The LTV is calculated by dividing the amount that you owe on the property by the value of the property. ** Lot/Land Balloon loans are amortized over a 20-year term. *** APRs are based on a $25,000.00 loan amount. Search www.decu.org Terms & Conditions of Use | Privacy Statement | Browser Compatibility | Legend | Other DECU Sites |