Can I buy and new Primary Residence and keep my current one? Dublin/Pleasanton/Hayward/Fremont - 02/18/10 12:51 PM
Rules for Buying a Primary Residence WITHOUT Selling Current Home!
Remember there is up to a $6500 tax credit for move buyers! Must be in contract by 4/30/10 and close by 6/30/10.
Scenario 1: Home on the market and purchasing a new primary residence
Current home does not sell before the close of the new home than: Borrower qualifies on new home with current and new home monthly payments includes principle, interest, property taxes, and hazard insurance Reserves at closing on the new purchase will be required (bank specific) as a rule use 6 months of principal and interest payments (PITI) to cover both homes possibly … (1 comments)
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Clock Ticking on the Home Tax Credit.....Pleasanton/Dublin/Fremont/Hayward - 02/03/10 08:14 PM
For prospective homebuyers who are on the fence about making a home purchase, the next few months represent a countdown of sorts as huge tax credits are about to expire. Here are important details for you to know: Tax Credit for First-Time Homebuyers (FTHBs)FTHBs (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000. Single taxpayers and married couples filing a joint return may qualify for the full tax credit … (1 comments)
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You will pay more to buy in the spring than now! Dublin/Pleasanton/Hayward/Fremont - 02/01/10 03:45 PM
Those Who Wait Will Pay Thousands More This Spring
Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important … (0 comments)
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