Loans & Mortgages News Blog

Re-use A VA Certificate to Purchase a Sacramento Home

It’s a common misperception that a Sacramento VA loan is just for first-time home buyers, since Veterans usually use it to buy their first home. The reality is that a Veteran can re-establish eligibility to purchase a home in Sacramento and use their VA loan benefit again.

Continue reading...

$8,000 first-time home buyer tax credit available in Rhode Island, but time is running out!

First-time home buyers looking to purchase a home in Rhode Island, are eligible for up to 10% of the home’s purchase price, up to the maximum $8,000 tax credit just for buying a home. The latest stimulus package signed by President Obama makes these credits available to first-time home buyers on homes purchased between January 1,

Continue reading...

Massachusetts First-Time Home Buyer Credit Extended & Expanded

Good news for Massachusetts first-time home buyers arrived this Friday, November 6th, when President Obama signed into law legislation extending and expanding the Federal Housing tax credit.  The tax credit is now not only for MA first-time home buyers, but for qualified MA repeat home buyers as well. The new law also raises the income limits under which Massachusetts home buyers can qualify for the credit

Continue reading...

Florida Home Buyer Tax Credit Extension makes it through Congress

Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday. The White House says the President will sign it into law today. The up-to-$8000 tax credit’s expiration date has been pushed forward to spring, requiring homebuyers to be under contract by April 30, 2010, and to be closed by June 30, 2010

Continue reading...

Warning, $8,000 first-time home buyer credit is getting close to expiring for Rhode Islanders.

Rhode Island first-time home buyers have until November 30th to close on a new home to take advantage of the $8,000 tax credit. Although the November 30th date is advertised everywhere as the drop dead date for the tax credit, it is important to be aware of some time tables.  What first-time home buyers need to realize is with the popularity of the $8,000 tax credit, lenders, appraisers, title companies and closing attorneys are going to be busier than normal making their response time slower. They also need to know that the week of the tax credit expiration is the week of Thanksgiving and most companies will be closed four out of the five days at the end of the month due to the holiday.

Continue reading...

100% financing is still available for first-time home buyers in Rhode Island.

First -time home buyers in Rhode Island looking for 100% financing , it is still available.  A first-time home buyer is defined as someone who has not owned real estate within the past three years .  Combine this with the $8,000 tax credit , there is no better time to purchase in Rhode Island then now.  *To take advantage of the $8,000 tax credit, you must close your new home by December 1, 2009 . For many Rhode Island home buyers, coming up with a down payment for a new home can be challenging.  You may be eligible for a  no-money down payment or grant offered through a state bonded program if you meet income requirements.  The program offers 30-year term mortgages at low interest rates. Income limits are determined by the household size.  1 or 2 person household must not make more than $87,400 .  If there are 3 or more in the household , the income cannot exceed $102,000

Continue reading...