Congress voted this afternoon to extend the $8,000 First-time Homebuyer Tax Credit and created an additional $6,500 credit for existing property owners looking to sell their home and buy another.
Today’s House vote was 403-12 in favor of the bill after the Senate approved the measure in a 98-0 vote Wednesday night. The legislation now moves [...]
Archive for the ‘Info for Buyers’ Category
Homebuyer Tax Credit Extended and Expanded!
Posted in Info for Buyers, Info for Sellers, Market Updates, tagged homebuyer tax credit, tax credit on November 6, 2009 | Leave a Comment »
Rate Update
Posted in Info for Buyers, Mortage, tagged current mortgage rates, mortgage rates, rate trends, rates on August 17, 2009 | Leave a Comment »
The bond market is performing well today and rates are better based on a beguine CPI report. Inflation is basically at zero with a year over year decline of 2.1% – the lowest rate since 1950. Maybe more important than that, for the future of low rates, is the fact that the Fed purchased another [...]
FHA Loans Update May 2009
Posted in Info for Buyers, tagged FHA Loan, fha loans, loan requirements for fha loans on May 7, 2009 | Leave a Comment »
Below are are the new FHA Updates:
1.The borrower must meet standard FHA credit qualifications (there’s no
set credit score barometer, but a borrower’s debt-to-income ratio is
heavily considered).
The borrower is able to finance the upfront mortgage insurance premium
into the loan. The borrower will be responsible for paying an annual
premium.
The FHA mortgage requires a low 3.5-percent down payment, [...]
Attention First Time Homebuyers!
Posted in Info for Buyers, Mortage, tagged cincinnati ohio real estate, fha loan rates for first time homebuyers, first time homebuyers, loveland ohio real real estate, mason ohio real estate, milford ohio real estate, mortgage rates for first time homebuyers on April 8, 2009 | Leave a Comment »
FIRST-TIME HOMEBUYER PROGRAM
Effective 04/06/2009 @ 12:01am
Mortgage Rates
5.50% for loans without 2.5% assistance grant*
6.00% for loans with 2.5% assistance grant
5.25% for Ohio Heroes without 2.5% assistance grant*
5.75% for Ohio Heroes with 2.5% assistance grant
30-year fixed rate FHA/VA/USDA-RD/conventional loans are eligible
2-1 buydowns are permitted-please see the Underwriting Guidelines
(UG) for specific product [...]
State of Ohio Bond Money Rates for First Time Homebuyers
Posted in Info for Buyers, Info for Sellers, Mortage, tagged cincinnati ohio real estate, cincinnati real estate, first time homebuyer state of ohio bond money, state of ohio bond money, state of ohio bond money rates on March 4, 2009 | Leave a Comment »
STATE OF OHIO BOND MONEY
For the First Time Home Buyers
5.625% for loans without 2.5% assistance grant
6.125% for loans with 2.5% assistance grant
5.375% for Ohio Heroes without 2.5% assistance grant
5.875% for Ohio Heroes with 2.5% assistance grant
Good only through Aug. 3, 2009
The Tax Credit also applies for these Loans.
Call: Charlene Fay w/ RE/MAX Elite for your [...]
Tax Credit Passes
Posted in Info for Buyers, Info for Sellers, Mortage, tagged cincinnati real estate, homebuyer tax credit, tax credit for homebuyers on February 19, 2009 | 1 Comment »
Guidelines for Home Buyer Tax Credit
Tax credit has been increased to $8,000.
Homes have to be purchased between January 1, 2009 and December 31, 2009.
No repayment/recapture clause for homes sold after 36 months of
occupancy and ownership.
1.The Tax Credit is for home buyers (either spouse if filing jointly)
who have NOT owned a principle residence during the three-year [...]
Homebuyer Tax Credit
Posted in Info for Buyers, Info for Sellers, Mortage, tagged cincinnati real estate, economic stimulus, first time homebuyers tax credit, homebuyer tax credit, tax credit for homebuyers on February 13, 2009 | Leave a Comment »
Compromise Agreement Reached on Economic Stimulus
The Senate and House Conference reached an agreement yesterday on the economic stimulus package legislation. Congressional leaders hope to officially unveil the measure sometime today.
Homebuyer Tax Credit
The homebuyer tax credit has been modified yet again and according to
reports is as follows:
· $15,000 tax credit has been reduced to $7,500 (or [...]
New FHA Requirements
Posted in Info for Buyers, Info for Sellers, Mortage, tagged fha down payment assistance, fha loans, first time homebuyer loans, loan requirements for fha loans on October 15, 2008 | Leave a Comment »
As volatility in the financial market continues, offering a product that meets the needs of first-time homebuyers has become increasingly difficult. The ability to obtain capital to continue our programs is severely limited. Despite recent rate increases, program volume has continued at a pace that can not be sustained. It has become evident that down [...]
Mortgage Pre-Approval Checklist
Posted in Info for Buyers, Mortage, tagged mortgage pre-approval, mortgage pre-qualification, pre-approved buyer, pre-qualified buyer, the difference between pre-approval and pre-qualificati on June 17, 2008 | Leave a Comment »
Before you even start looking for a home, I always advise buyers to get Pre-Approved by a loan officer. What this helps to do is not only give us a price limit as to what homes you can afford, but also helps us to better negotiate with the sellers when we do find your dream home. [...]
HUD-1 Settlement Statement Explained
Posted in Info for Buyers, Info for Sellers, tagged HUD-1 explained, settlement statement explained on June 12, 2008 | 1 Comment »
Closing your home should be exciting, and once you understand the process and how it works, it can be!
What I have done below is broken down each line with a detailed description of the HUD-1 Settlement Form. Once a closing date has been established, a HUD will be sent to you for review, and this way it makes it [...]
