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Loans for first time home buyers in Davenport and Bettendorf IA
Iowa Finance Authority has announced a new program available in February 2014
An annual federal tax credit for the life of the loan ( max 30 years) up to $2000 per year. The credit is 30 percent of your mortgage interest each year up to $2000. This is a CREDIT not a deduction...if your federal income tax refund is $500 it will increase to $2500 after you take the credit.
The buyer must qualify for ONE of the following:
First-time home buyer defined as not owning your primary residence in the last 3 years OR Military veteran with discharge of other than dishonorable and has not used a Mortgage Revenue Bond program previously OR Purchasing a home in a Targeted Area There are MAXIMUM family incomes ranging from $66,809 to $90,580 in Scott county. The Maximum sales price is $250,000 to $305,000 depending on the area.
More information is available at Iowa Finance Authority
There are other programs available as well. Call Michelle Rottach with RE/MAX River Cities for a free consultation. 563 499-5700 or firstname.lastname@example.org I specialize in helping first time buyers find the best programs and homes available. I'll take the time to provide you with ... more
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