This is the link for the tax credit IRS form for first time home buyers.
http://www.irs.gov/pub/irs-pdf/f5405.pdf
Thursday, July 16, 2009
Tuesday, June 30, 2009
Saturday, June 27, 2009
Breaking News: Tax Credit Can Be Used on Closing Costs
FHA-approved lenders were recently given the green light to develop bridge-loan products that would allow first-time buyers (anyone who has not owned a home in the last three years) to use the benefits of the federal tax credit "upfront."
Under these HUD developments and guidance, FHA-approved lenders can develop bridge loans that buyers can use in different ways. Most notably, you could use it to help cover closing costs, possibly buy down your interest rate, or even offer more than the minimum 3.5 percent down, which would allow you to make a stronger offer—a key strategy in some markets where first time buyers are competing with investors in specific price ranges.
Note: HUD officials indicate that the loans can't be used to cover the required minimum 3.5 percent down, only to supplement the down payment. In addition to this new development, there remain many state, local and nonprofit lender resources and programs for buyers needing help with the 3.5 percent downpayment. (Call me to see which resources you might qualify for)
These new developments, combined with the (up to) $8,000 tax credit and the historically low prices and still low mortgage rates, make this an opportune time to buy. Call me for a free consultation to discuss your specific opportunities and situation. The tax credit is only good through 2009, so now is the time to take advantage and not get caught in the crunch toward the end of the year when procrastinating buyers will scramble to buy before the tax credit expires.
Under these HUD developments and guidance, FHA-approved lenders can develop bridge loans that buyers can use in different ways. Most notably, you could use it to help cover closing costs, possibly buy down your interest rate, or even offer more than the minimum 3.5 percent down, which would allow you to make a stronger offer—a key strategy in some markets where first time buyers are competing with investors in specific price ranges.
Note: HUD officials indicate that the loans can't be used to cover the required minimum 3.5 percent down, only to supplement the down payment. In addition to this new development, there remain many state, local and nonprofit lender resources and programs for buyers needing help with the 3.5 percent downpayment. (Call me to see which resources you might qualify for)
These new developments, combined with the (up to) $8,000 tax credit and the historically low prices and still low mortgage rates, make this an opportune time to buy. Call me for a free consultation to discuss your specific opportunities and situation. The tax credit is only good through 2009, so now is the time to take advantage and not get caught in the crunch toward the end of the year when procrastinating buyers will scramble to buy before the tax credit expires.
Thursday, June 18, 2009
Friday, April 24, 2009
Open House Cancelled
The open house at 408 N. Dover for Saturday April 25th has been cancelled. The home is currently under contract.
Friday, April 17, 2009
Open House
408 N. Dover Ave.
From Frankford turn east on Erskine and south on Dover. Home is on the east side of the street.
Saturday April 25th
2:00-4:00
3/2/2
$112,000
Saturday, April 4, 2009
Interest Rates
Rates on 30-year mortgages fell recently to the lowest level on record after the Federal Reserve launched a new effort to stimulate the struggling U.S. housing market.
Mortgage finance giant Freddie Mac said that average rates on 30-year fixed-rate mortgages dropped to 4.85% last week, from 4.98% the previous week. This was the lowest in the history of Freddie Mac's survey, which dates back to 1971, and was down a full percentage point from a year ago. These are truly historic times and they present a great opportunity to anyone who is thinking of buying.
If you or someone you know is ready to take advantage of historic low prices and historically low interest rates, please call me or send me your referral. Don't let this opportunity pass you by.
Mortgage finance giant Freddie Mac said that average rates on 30-year fixed-rate mortgages dropped to 4.85% last week, from 4.98% the previous week. This was the lowest in the history of Freddie Mac's survey, which dates back to 1971, and was down a full percentage point from a year ago. These are truly historic times and they present a great opportunity to anyone who is thinking of buying.
If you or someone you know is ready to take advantage of historic low prices and historically low interest rates, please call me or send me your referral. Don't let this opportunity pass you by.
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