Homestead Funding would like to welcome Melissa Cappelli to our Albany, NY sales team. Melissa joined the processing /underwriting department at Homestead Funding in 2015. She learned various aspects of the residential mortgage industry while working closely with top producers, who emphasized the importance of customer service, managing client expectations and effective communication. Melissa says, “being able to work on a large quantity of files helped me to think outside the box and come up with creative strategies to make the mortgage process as simple, well communicated and stress free as possible for my clients.” Melissa is excited about this new journey in her Homestead career as it allows her to work with creative, fun, and a dedicated group of professionals who promote a positive and caring atmosphere.
Melissa’s a Syracuse native who grew up playing sports and watching Syracuse University. Melissa graduated from SUNY Oswego with a BA in Psychology. She moved to the Albany area in 2008 and purchased her first home in Schenectady in 2012.
Melissa recently became a member of the American Diabetes Association Tour de Cure Planning Committee and at Christmas time she sponsors a child with the Chamber Angels of Southern Saratoga County. Melissa enjoys spending time with her family, hiking, volunteering and cheering on SU…GO ORANGE!
To Learn more about Melissa visit her webpage.
Good luck in your new position, Melissa!
Homestead Funding would like to welcome Courtney Delaney to our Clifton Park, NY sales team. Courtney has been in the mortgage business for over nine years. She was raised and attended school in Saratoga Springs and continues to live in the area.
Courtney brings with her the knowledge she obtained as a processor; pay attention to detail and set proper expectations for her clients. She always goes above and beyond for her borrowers as she understands this is probably the largest purchase and biggest decision they will make. There is no question Courtney won’t answer and she does her best to insure a clean, smooth and quick mortgage process from application to closing.
Courtney spends her personal time with her amazing family and volunteers with Junior Achievement at local elementary schools. Junior Achievement fosters work-readiness, entrepreneurship and financial literacy skills. She also loves camping, outdoor activities and of course her four rescue animals.
Courtney says she is so happy to be a part of the Homestead Funding family -- a powerhouse in the residential mortgage industry. “Local processing allows for a smooth experience and we all share our knowledge and experience which ultimately benefits the clients.”
To Learn more about Courtney visit her webpage.
Homestead Funding would like to welcome Mark Lenkiewicz to our Brewerton, NY sales team! Mark has been in the mortgage industry for five years. Born, raised and currently living in the Syracuse area, Mark attended SUNY Oswego and graduated with a degree in business administration with a concentration in marketing and minors in philosophy and economics.
Mark volunteered in high school, college and continues to serve at rescue missions, food drives, SPCA and organizations to service the less fortunate. He enjoys skiing, power-lifting at the gym, watching NFL football, golfing, reading and keeping an eye on the stock market!
Marks says he is happy to be a part of the Homestead team because of the great support system and the wide variety of products they offer to meet his client’s needs.
Contact Mark with any mortgage questions. He is ready and looking forward to meeting you and getting you on your way to home ownership.
To learn more about Mark visit his webpage.
Homestead Funding would like to welcome Zachary Green to our Clifton Park, NY sales team! Although new to the mortgage industry, Zachary has over six and a half years of sales experience. Born in Ohio, Zachary has been a resident of Clifton Park since he was 12.
As an active member of his community, Zachary coaches both of his sons baseball teams as well as helps with the basketball team. He is an avid outdoorsman; enjoying hunting, fishing, and hiking.
Zachary says he is happy to be a part of Homestead because in his opinion, Homestead is the best mortgage company in the area.
To learn more about Zachary visit his webpage.
Recent tax code changes could potentially affect the financial aspects of buying and owning a home. Several of the revisions impact areas like mortgage interest deductions and home equity loan deductions. To help clarify the updates, we’ve created a chart that shows the changes.
Exclusion of Gain on the Sale of a Primary Residence
Under the original proposed changes, homeowners would be required to live in a home for a minimum of five out of eight years to claim the capital gains exemption. It was decided however, that the current tax framework would remain the same: a homeowner who had lived in a home for a minimum of two of the previous five years wouldn’t pay anything in capital gain taxes if they sold their home.
How It Could Affect You: There are no major changes. The two of previous five years requirement will stay unchanged.
Mortgage Interest Deduction (MID)
Under the initial proposal, the limit on the mortgage interest deduction (MID) would be reduced from $1,000,000 to $750,000.
How It Could Affect You: This proposal reduces the limit on deductible mortgage debt to $750,000 for new loans taken out later than December 14, 2017. Assuming a 20% down payment, reduction in the MID will only impact buyers who are purchasing a home in the price range between $938,000 and $1,250,000. Experts have mixed reactions, with some feeling that it will have little impact on the market and others feeling it could be potentially detrimental having a limit on the MID raising taxes for those who itemize.
State and Local Taxes (SALT)
The original proposal includes the elimination of the state and local tax deduction (including property taxes). Under the new tax code, itemized deductions of up to $10,000 for state and local property taxes and income or sales taxes.
How It Could Affect You: Experts agree that higher taxed regions will be primarily impacted, as those homeowners now have a cap on these deductions. Some people might choose to live in one state over another because of taxation. This could impact demand on housing in some states.
What Does It Mean for Buyers?
Many families consider homeownership an essential part of the American Dream, and don’t necessarily purchase a home simply for the tax advantages. So even with the tax code changes, the main reasons people purchase homes (stability, freedom, building equity) are unlikely to be affected. If you are considering purchasing a home, speak with your Homestead Funding Loan Originator to review how the new code will impact you.