Top 1% Loan Originators in the Country for 2017 – Mortgage Executive Magazine

2017 was a big year for First Home Mortgage Corporation.  The Mortgage Executive Magazine compiled a list of The Nations Top 1% of Mortgage Originators.  Included in this comprehensive list is 37 of First Home’s very own Loan Originators.

WOW!

To be eligible for such an achievement, each Loan Originator was required to produce a minimum of $30 million in 2017.  These leading mortgage professionals continually dedicated their time and energy and worked extremely hard to make sure their clients received the utmost service throughout the 2017 year.

A BIG CONGRATULATIONS goes to:

Darran Anthony, Marc Aymard, Anne Borghesani, Neil Bourdelaise, Heather Devoto, Derek Evans, Michael Farrell, Karen Dulmage, Carolyn Flitcroft, Jeffrey Halbert, Alex Jaffe, Ann Kavadas-Flaherty, Tammi Lewis, Robert O’Connell, Peter O’Donnell, Michael Nadeau, Tony Olmert, James Moran, Ayaz Rahemanji, Ryan Paquin, Gary Pierpont, Bill Payne, Todd Pede, Timothy Reinhart, Evelyn Perez, Jeffrey Richards, Darren Rickwood, John Savastano, Salvatore Savastano, Bruce Rosenberger, Jake Ryon, Michael Taylor, Gabe Tuvek, Kari Story, Scott Story, David Strassner and David Toaff.

 

Congratulations top Loan Originators of First Home Mortgage Corporation!

New Tax Laws of 2018

On Friday, December 22, 2017, President Trump signed the Tax Cuts and Jobs Act, designed to lower taxes and spur economic growth.  Most of these changes have already taken effect, starting on January 1, 2018.  Expecting to reduce taxes for individuals and businesses, this new tax reform bill will increase standard deduction, increase child credit tax among several other adjustments.

Mortgage Interest Deduction

The limit for mortgage interest deduction dropped from $1 million in housing debt to $750,000.  This is effective on homes purchased after 12/15/17.  Also allows the $1 million limit for refinancing an existing loan as long as the new loan is not greater than amount refinanced.

Standard Deduction

Increasing (nearly doubling) to $12,000 for individuals and $24,000 for couples filing jointly.  This increase means fewer people will have to itemize and more taxpayers will be able to take the standard deduction.  The standard deduction for taxpayers with few itemized deductions will exempt twice as much of their income from federal taxation.

State and Local Tax Deductions

New $10,000 deduction limit on state and local taxes, including income and property taxes.  Taxpayers can claim the aggregate of state and local property taxes capped at $10,000.  Interest can be deducted at $750,000 down from $1 million on the amount of mortgage obligation on new home purchases.

Home Equity Deduction

HELOC (Home Equity Line of Credit) was tax deductible when debt was incurred “for reasons other than to buy, build, or substantially improve your home.” This tax deduction has been removed.

Moving Expense Deduction

Certain moving expenses were tax deductible if starting a new job.  This is now limited to only active duty in the armed forces.

Increased Child Tax Credit

The Child Tax Credit is doubled from $1,000 per child to $2,000 with an amount that is refundable to $1400. Also, adding a nonrefundable credit of $500 for dependents other than children.  Income threshold raised from $110,000 for a married couple to $400,000.

*Please consult a tax advisor

 

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