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1st time buyers: Federal Home Buyer Tax Credit for Married and Unmarried... IRS Q&A - 02/06/10 02:00 PM
As a lender I am continually asked so many questions about the 1st Time Home buyer tax credit and the Home buyer tax credit. Since I am not a tax advisor it is just best to go directly to the source....
Q. I am a long-time resident (have owned and used my current home as a principal residence for five consecutive years out of the eight-year period ending on the date of purchase of the new residence) but my spouse has lived there for only three years. Can we qualify for the long-time resident homebuyer credit if we purchase a new principal residence?
A. No. Both spouses must … (0 comments)
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1st time buyers: This month's bizarre holiday; National Puzzle Day! -What does that have to do with Loans? - 01/19/10 10:31 PM
This month's bizarre holiday; National Puzzle Day!
Puzzles are a favorite pastime for millions of people, young and old; National Puzzle Day honors puzzles of all size, shape and form. Whether you're into crosswords, jigsaws, or even a simple word search - doing puzzles is fun! For some, they enjoy the challenge, for others it's a way to kill time - either way, puzzles keep your mind sharp.
What do puzzles have in common with Real Estate Lending? - Everything!
When a lender receives a loan application - it is like putting together a puzzle. The final loan package submitted to … (2 comments)
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1st time buyers: Three Reasons Why Now is the Time to Buy your Home -Reason #3 - 01/14/10 05:06 PM
Have you looked at your paycheck lately? How much are you paying the government? How much of your money goes to Federal and State income taxes? Let's talk about some of the financial reasons you want to own your home.
1. The interest you pay for your mortgage is tax deductable. The property taxes are also tax deductible. what does this mean to you? Let's assume that you are buying a $200,000 house. The interest payment if your rate is 5% on a 30 year loan with 3.5% down payment is roughly $9,650. Average CA property taxes would be about $2,500 … (0 comments)
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1st time buyers: Three Reasons to Buy Now ... Reason #2 - 01/12/10 08:22 PM
Three Reasons to Buy Now ... Reason #2
Now is the time to get off the fence. Dawdling home buyers beware... the low interest rates are coming to an end. The Federal Reserve has helped keep rates low through the purchases of mortgage backed securities. But, that program is winding down and will end in April 30th, 2010. "the government is throwing everything at the market, but the kitchen sink," said Peter Schiff, president of Euro Pacific Capital. "It can't prop up the housing markets forever." (with lower rates).
30 year mortgage rates have been in the unheard of 4.375 … (2 comments)
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INGRID PIERSON NMLO#233666 800-530-9421
Roseville,
CA
More about me…
VITEK Mortgage Group
Address: 3 Park Center Circle, Sacramento, CA, 95825
Office Phone: (530) 885-1545
Cell Phone: (916) 709-5626
Email Me
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