temecula: Military Home Buyer Tax Credit Extension + VA Home Loans is a Great Combination
- 09/24/10 05:58 PM
Few people in California realize that members of the Military's Armed Forces, Foreign Service, and Intelligence community are granted an extension through April 30, 2011 to qualify for the $8,000 first time home buyer tax credit as well as the $6,500 tax credit for repeat or ‘move up' buyers tax credit. Qualified service members must fully execute a binding purchase contract in California's Inland Empire of Riverside and San Bernardino counties, San Diego, Orange County, or Los Angeles County, by April 30, 2011, and have until June 30, 2010 to close their transaction. I'll admit it, I don't always agree … (2 comments)
temecula: FHA Mortgage Loan Insurance Changes for Homebuyers in California's Inland Empire, Temecula, Corona, Riverside, Murrieta & Menifee
- 08/12/10 05:40 PM
HUD recently announced that starting October 4th (recently delayed), FHA is reducing the amount to be collected for their Up Front Mortgage Insurance Premium (UFMIP). However, FHA will also increase how much they collect on their Annual Mortgage Insurance Premium (MIP - collected monthly) for California's Inland Empire (Riverside & San Bernardino County) home buyers. Confused? FHA's insurance is a ‘split' premium type of mortgage insurance designed to protect the lender from loss. FHA collects some up front (UFMIP) and some on a monthly (MIP) basis. Don't confuse this with your fire/hazard type homeowners insurance which is completely different than FHA's mortgage insurance. … (3 comments)
Few people in California realize that members of the Military's Armed Forces, Foreign Service, and Intelligence community are granted an extension through April 30, 2011 to qualify for the $8,000 first time home buyer tax credit as well as the $6,500 tax credit for repeat or ‘move up' buyers tax credit. Qualified service members must fully execute a binding purchase contract in California's Inland Empire of Riverside and San Bernardino counties, San Diego, Orange County, or Los Angeles County, by April 30, 2011, and have until June 30, 2010 to close their transaction. 
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