Financial Strategy & Contribution.
Boost Your Portfolio. Explore Tax Incentives.
Taking Advantage of Charitable Real Estate Donation
Take part in philanthropy by donating your property. By donating your property through the federally approved 501c3 tax law provision, you can give others the gift of home ownership.
Understanding The Tax Benefits.
Section 501c3 is a tax law provision that grants exemption from income taxes by donating your property to a nonprofit organization. The provision allows a property owner to offset capital gains over the course of 5 years.
What Types of Properties Qualify?
Most charities are lenient on the types of properties that can be donated. Categories include residential, commercial, industrial, vacant land, and international property. The property must b free of debts or liens, and meets environmental standards.
OffSet Renovation Costs with a FHA 203K Loan.
If you are a property owner needing financing for home renovations or upgrades, an FHA 203K Renovation Loan can be used to finance the work. Backed by the Federal Housing Administration (FHA), an FHA 203K loan is a mortgage loan used to finance renovations. An FHA 203K is the best option when it comes to lowering the costs for construction.
Types of FHA Loans
FHA 203K Full/Standard.
FHA 203k Full/Standard is designed to provide financing for modernization of older properties, covering structural repairs and major renovations. Some examples include repairs to plumbing, electric, roofing, flooring, or all of the above.
FHA 203K Limited.
For smaller projects that do not require major renovation, a FHA 203K limited loan is designed for just that. This covers minor changes of up to $35,000. This loan can be used for minor repairs such as painting, weatherizing, and appliance replacements.
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June 11, 2023
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