Rates Off Slightly; No More New Construction Tax Credits; Septic Tank OK for FHA w/o a Septic Cert

The State of California is no longer accepting requests for the $10,000 Tax Credit for New Construction, as they have used up the allotted funds.

The $8,000 Federal Tax Credit for all First Time Homebuyers remains in place through November 30th.

FHA now allows properties with septic tanks, without a "septic certification", if the appraiser and/or any inspectors do not "call out" any visible issues, and if the septic tank is "typical for the area". This is good news, as we recall many issues with required Septic Certifications for FHA transactions during the 1990s.