09.18.09
Posted in First Time Homebuyers, Mortgage News at 9:11 pm by Administrator
The clock is ticking on the tax credit that is due to expire on November 30, 2009. There may be some good news for first time home buyers who are searching but haven’t found a house yet and are worried about not being able to close in time to take advantage of the tax credit. Apparently, there is about a 60% chance that the first time home buyer tax credit may be extended as per the article below to keep first time home buyers in the market to help reduce the massive oversupply of inventory. Read more about it below…..
http://www.msnbc.msn.com/id/32902573/ns/business-real_estate//
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05.05.09
Posted in First Time Homebuyers, Mortgage News at 6:04 pm by Administrator
We have seen a big increase in applications for first time home buyers. When asked what made them take the first step, almost everyone of the applicants brought up the $8,000 Tax Credit for First Time home buyers. We have detailed information through our website on this tax credit by clicking here.
We see this as great news because that was the whole intention of the tax credit in the first place. The 2008 Tax Credit didn’t move first time home buyers like the 2009 Tax Credit has mainly because this year’s tax credit does not have to be repaid. Also, interest rates have remained low and home prices have been reduced substantially. First time home buyers are recognizing that for the price they are paying in rent, they can be owning a property. This is the best news for young adults ages 20 to 35 who were taken out of the market a couple years back due to the huge increase in prices. This is also good for older adults who have never owned a home or haven’t in a while to get back into the market.
If you would like to take the first step to own a home, contact Lissette Cancio at 866-790-7883 x101. If you have any comments or questions, please do so by blogging with us or giving us a call.
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03.24.09
Posted in First Time Homebuyers, Mortgage News at 8:05 pm by Administrator
There is a new tax credit for First Time Home buyers purchasing in 2009 which is a much improved version of the 2008 tax credit. The biggest and most significant difference is that the tax credit does not have to be repaid like the 2008 tax credit as long as the property remains your primary residence for 3 years. Also, it allows a tax credit up to $8,000 versus the $7,500 for the 2008 tax credit. This tax credit might just be what First Time home buyers that are sitting on the sidelines needed to pull the trigger and purchase their very first home. Read all the details on the 2009 tax credit at http://approvedteamlending.com/1st-buyers/2009taxcredit.html.
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12.18.08
Posted in First Time Homebuyers, Mortgage News at 8:55 pm by Administrator
First Time Home Buyers are Thriving in this current market. Homes prices have come down substantially and they are now affordable to first time home buyers. Most consumers think that you need perfect credit and a huge down payment in order to obtain financing for a loan. Although this may be the case if you are a current homeowner, the same does not hold true for a first time home buyer. There are FHA loans that only require a minimum down payment of 3.5% in order to buy your very own home. FHA loans do require certain credit qualification and the ability to prove your income with pay stubs, W2s, or tax returns but typically are more lenient than traditional loans. FHA loans were put in place to help consumers who didn’t have access to a huge down payment in order to boost homeownership. Not only are FHA loans bringing more and more First Time Home buyers in the market, but the tax incentive that was just signed into law has also brought in many inquiries. You can read more about this tax incentive at approvedteamlending.com/frontpagenews-firsttimehomebuyer.html.
Approved Team Lending specializes in helping First Time home buyers from application to closing and walks you through every single step answering any question along the way. We work with professionals in our industry such as Appraisers, Realtors, Insurance Agents, etc that we can recommend as well. If you have any questions, please feel free to contact one of our First Time Home Buyer Specialists at 866-790-7883.
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07.11.08
Posted in First Time Homebuyers, Foreclosures at 1:30 pm by Administrator
Good news is coming for first time home buyers. The Senate is in the process of passing a bill to give first time home buyers up to an $8,000 tax credit for buying a home. This is a great time for first time home buyers as rates are still low, prices have come down substantially and are now affordable, with this new tax credit. Homeownership is within reach for a lot of first time home buyers and we are seeing many of them taking advantage of the low prices. This bill is primarily focused on helping current homeowners that are in foreclosure or are on the brink of foreclosure. It will allow more Americans to stay in their homes and work with the current lender to make that happen. It won’t fix all the problems but it’s certainly a start. Some might say too little to late but at least the government is finally showing up to the party. The article below reports on this bill.
By JULIE HIRSCHFELD DAVIS, Associated Press Writer
WASHINGTON – Struggling homeowners who can’t afford their mortgages and banks facing big losses would get government help under a foreclosure rescue that has broad bipartisan support.
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04.05.08
Posted in First Time Homebuyers at 3:14 pm by Administrator
I came across this article from Ted Owen about First Time Homebuyers. At Approved Team Lending, we focus on helping homebuyers purchase their very first home so this article hit home with me. Right now is a great time for first time homebuyers due to low interest rates as well as reduced rates on Purchase Price. Although this article speaks about the California market, Florida has experienced almost identical market conditions so I found it as relevant. Low rates, low Listing Price, and motivated sellers make right now a prime time for first time homebuyers. If you would like more information about buying your first home in Florida, go to www.approvedteamlending.com
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