Financial incentive to claim primary residence The main reason a borrower could be motivated to claim a primary residence on a mortgage application is to get a lower interest rate for that home. Typically, mortgages for a primary residence have lower interest rates and homeowner’s insurance costs, said Keith Gumbinger, vice president of mortgage website…
Visitors and salesmen stand at the booth of Swiss luxury watchmaker and jeweler Piaget, during the “Watches and Wonders Geneva” luxury watch fair, on April 1, 2025. Fabrice Coffrini | Afp | Getty Images Jamie and her husband are traveling to Switzerland in December for a ski vacation. But hitting the slopes isn’t the only…
U.S. House of Representatives Speaker Mike Johnson and other Republican House members celebrate following the signing of U.S. President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., U.S., July 3, 2025. Jonathan Ernst | Reuters How to read this guide Follow along from start to finish, or use the table…
President Donald Trump signed his party’s tax and spending package into law on Friday, ushering in major changes to Americans’ finances. The GOP’s marquee “one big beautiful bill” makes Trump’s 2017 tax cuts permanent while adding a senior “bonus” along with a bigger state and local tax deduction and higher estate and gift tax exemption….
Speaker of the House Mike Johnson, R-La., speaks to reporters as he walks back to his office as the House of Representatives waits to vote on President Trump’s “big beautiful bill” reconciliation package on July 3, 2025. Bill Clark | CQ-Roll Call, Inc. | Getty Images A massive package of tax cuts championed by President…
Senate Majority Leader John Thune (R-SD), flanked by Sen. John Barrasso (R-Wyoming), Sen. Mike Crapo (R-Idaho) and Sen. Lindsey Graham (R-SC), speaks to reporters after the Senate passed President Trump’s reconciliation package on July 1, 2025. Bill Clark | Cq-roll Call, Inc. | Getty Images Tax cuts are the centerpiece of a massive legislative package…
Senate Majority Leader John Thune (R-SD) speaks to reporters at Capitol Hill on June 24, 2025 in Washington. Tasos Katopodis | Getty Images News | Getty Images A Republican megabill that lawmakers are trying to pass by the Fourth of July would clamp down on the finances of immigrant households, including those in the U.S….
US President Donald Trump gestures towards the new flagpole on the South Lawn of the White House after arriving on Marine One in Washington, DC, US, on Saturday, June 21, 2025. Ron Sachs | Bloomberg | Getty Images President Donald Trump is set Thursday afternoon to host a group of working-class Americans at the White…
U.S. Senate Majority Leader John Thune (R-SD) speaks at a press conference following the U.S. Senate Republicans’ weekly policy luncheon on Capitol Hill in Washington, D.C., U.S., June 10, 2025. Kent Nishimura | Reuters As Senate Republicans release key details of President Donald Trump‘s spending package, some provisions, including the federal deduction for state and…
Staff members remove a sign following a press conference after the House passage of the tax and spending bill, at the U.S. Capitol on May 22, 2025 in Washington, DC. Kevin Dietsch | Getty Images House Republicans passed a multitrillion-dollar tax and spending package after months of debate, which included many of President Donald Trump‘s…
