Tag: taxes

DC First-Time Homebuyer Recordation Tax Reduction (UPDATED APRIL 2023)

Written by Ben Raffel on 2023-04-14.

For the latest information on the DC First-Time Homebuyer Recordation Tax Reduction benefit for first-time homebuyers, please visit our Guide to DC’s Recordation Tax Reduction. Below Are The Updated (April 2023) Requirements to Qualify...

Don’t Lose your $692 Tax Credit in Montgomery County!

Written by Ben Raffel on 2023-03-14.

Montgomery County offers an Income Tax Offset Credit (ITOC) of $692 for residents who live in the property they own. State law now requires property owners to have a Homestead Tax Credit (HTC) on file with the Maryland State Department of...

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Real estate tax and escrow/reserves explained…

Written by Todd Ewing on 2022-07-15.

Homebuyers and refinancing homeowners are often confused at closing about their mortgage lender escrow/reserve requirements. Typically if a homebuyer’s down payment amount is less than 20% or a refinancing homeowner’s equity is less than...

What does ‘no consideration’ deed mean?

Written by Federal Title on 2022-04-27.

When someone says “no consideration” deed, what does it mean? Does it mean no transfer and recordation taxes? No. It actually means that the property is being transferred via deed without money exchanging hands. However, not...

Deed transfers in Montgomery County… explained

Written by Federal Title on 2022-04-07.

In our previous looks at the topic of deed transfers, we’ve outlined the most commonly asked questions in our deed transfers FAQ and explored deed transfers + joint tenants as well as deed transfers + revocable trusts in DC. Today we...

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Tag: taxes

DC First-Time Homebuyer Recordation Tax Reduction (UPDATED APRIL 2023)

Don’t Lose your $692 Tax Credit in Montgomery County!

Real estate tax and escrow/reserves explained…

What does ‘no consideration’ deed mean?

Deed transfers in Montgomery County… explained

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