This is a great article from investopedia.com.
http://www.investopedia.com/articles/pf/05/022405.asp
Tuesday, November 17, 2009
Rates are low but could move higher......
There are indications that we may have seen the lowest lowes in mortgage bonds. This is based on the fact that the Fed is pulling back on purchasing Mortgage Backed Securities as it nears the end of the Mortgage Backed Security purchase program. Also the stock market has finished on a 13 month high which could promt many investors to move money from bonds to the stocks which would also have a negative effect on mortgage interest rates.
No one can predict the future but with current 30 year mortgage rates at 4.75%
No one can predict the future but with current 30 year mortgage rates at 4.75%
Thursday, November 12, 2009
Homebuyer Tax Credit Extended and Improved
The NEW AND EXPANDED Home Buyer Tax Credit.
The First Time Home Buyer Tax credit was scheduled to end December 1st of this year. However, due to the success of the program, and it's positive effect on the economy, congress has voted to extend the program and make the credit available UNTIL APRIL 2010.
First time home buyers, who weren't able to get a home this year, still have a few months to get up to $8,000 to assist with the purchase of their home. The income limit has been increased making the credit available to some home buyers who may not have qualified for the previous grant. Perhaps the biggest improvement of this program is extending the credit to all home buyers! Home owners who have been living in their home for 5 consecutive years also qualify for Free Grant Money of up to $6,500.00.
For more information visit http://www.federalhousingtaxcredit.com/.
The First Time Home Buyer Tax credit was scheduled to end December 1st of this year. However, due to the success of the program, and it's positive effect on the economy, congress has voted to extend the program and make the credit available UNTIL APRIL 2010.
First time home buyers, who weren't able to get a home this year, still have a few months to get up to $8,000 to assist with the purchase of their home. The income limit has been increased making the credit available to some home buyers who may not have qualified for the previous grant. Perhaps the biggest improvement of this program is extending the credit to all home buyers! Home owners who have been living in their home for 5 consecutive years also qualify for Free Grant Money of up to $6,500.00.
For more information visit http://www.federalhousingtaxcredit.com/.
Thursday, October 15, 2009
25 Biggest Real Estate Questions
This is a great article from Business Week. It covers a wide range of topics like market conditions, goverment programs, and mortgages. http://images.businessweek.com/ss/09/10/1013_real_estate_questions/index.htm
Tuesday, September 29, 2009
Equity Now- Using the Federal 1st Time Homebuyer tax credit as down payment.
The new Equity Now program lets 1st time home buyers get a small 2nd mortgage from Utah Housing that can be paid back using the $8,000.00 credit in allotted grant money. It is a great way for cash strapped buyers to get into a new home and take advantage of the tax credit.
Program Details
* You can qualify for up to 6% of the amount of the primary loan.
* The Equity Now loan has an interest rate of 7% at a 30 year fixed rate.
*All or some of the $8,000.00 tax credit can be used to pay down the Equity Now loan. If borrowers apply the full $8,000.00 tax credit toward their Equity Now loan they will receive a $100.00 credit.
*Hurry fast. This program only applies for loans closed on or before November 30,2009.
For more information go to http://b2b.utahhousingcorp.org/PDF/EQNborrower.pdf
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