first time homebuyer: Home Buyer Programs Available Including Down Payment Assistance, Federal Tax Credit, and Low Down Payment First Mortgages for First Time Buyers
- 07/16/09 08:38 AM
American Dream Down Payment Initiative (ADDI) - 6% Down Payment Assistance for Low Income First Time Homebuyers within the City of Los Angeles. City of Los Angeles Housing Department’s Mortgage Credit Certificate Program (MCC) – Allows an eligible homebuyer to claim an annual federal income tax credit and is applied to a portion of the total mortgage interest paid every year for the duration of the first mortgage loan. Neighborhood Stabilization Program – Up to $75,000 for low income and $50,000 for moderate income when purchasing foreclosure or foreclosed properties located within the NSP Priority Area. 2009 Federal Tax Credit (IRS … (0 comments)
first time homebuyer: CalHFA Conventional Loan offers upto 95% financing.
- 07/06/09 03:17 PM
Great news!!! CalHFA now has funding and is offering the 95% first mortgage which can be combined with upto 3% of the purchase price for down payment assistance with the CHDAP program. CalHFA Cal30-The Cal30 Conventional loan offers up to 95% financing. This first mortgage loan may also be combined with CalHFA junior loan programs for down payment and closing cost assistance to make owning your first home more affordable. California Homebuyer's Downpayment Assistance Program (CHDAP)Offers a deferred-payment junior loan of an amount up to the lesser of three percent (3%) of the purchase price or appraised value. … (0 comments)
first time homebuyer: Tax Credit to First Time Home Buyers
- 04/26/09 09:07 AM
$8000 Federal Tax Credit for First Time Homebuyers-2009 In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers. The tax credit is for first-time home buyers only. The tax credit does not have to be repaid. The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000. The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009. Single taxpayers with incomes up to $75,000 and married couples … (0 comments)
first time homebuyer: City of LA receives Stimulus money to be given out to homebuyers soon
- 04/26/09 09:04 AM
Attention First Time Homebuyers--New Program Available Great news as there is a new down-payment assistance and rehabilitation funds available from the federal government (HUD) via the City of Los Angeles Complete information is available at the City of LA Housing Dept website (LAHD) or on this link at http://lahd.lacity.org/nsp/PriorityFile.aspx?Type=93 This program is for homes in foreclosure within certain areas. You can check if the property is within the map by searching on the LAHD website here http://lahd.lacity.org/nsp/. Here is a link to the 2 page brochure summary http://lahd.lacity.org/nsp/PriorityFile.aspx?Type=94. This program is a great program for homes which need repairs since they … (1 comments)
first time homebuyer: Update! Stimulus Advances With Tax Credit Changes
- 02/10/09 04:18 PM
According to the Realtor Report, "The $790 billion stimulus package hammered out by House and Senate conferees late yesterday increases the home buyer tax credit to $8,000, from $7,500, and drops the repayment feature for buyers who hold on to their property for at least three years. The legislation also extends the effective date of the credit to December 1 from June 30, and extends eligibility to borrowers who buy their home with the help of state or local financial assistance that comes from the proceeds of tax-exempt mortgage revenue bonds. The credit remains open only to first-time buyers (those who … (6 comments)
first time homebuyer: Buyer's are coming into the market now--San Fernando Valley, CA
- 08/27/08 07:06 AM
Multiple Offers on Bank Owned and Foreclosures It seems like the people who were on the sidelines are now coming out and buying. A recent foreclosure was listed at $230K a little below market value and received 18 offers within a week. The accepted price, however, was $290K. This goes to show how this strategy of pricing low works well for generating activity and ultimately a higher price for the seller. For the buyers, it seems like those who continue to wait and expect a further worsening of the housing market may be left behind. The fact that multiple offers are … (4 comments)
first time homebuyer: First Time Homebuyer Tax Credit--Great news for buyers!!!
- 08/25/08 08:11 PM
What a great help this tax credit will be for buyers who are having difficulty affording their first home. With all the headlines about the so called credit crisis, it is nice to see that there are incentives being put in place for first time homebuyers. The Housing Stimulus Bill is offering a $7500 tax credit that would be available for any qualified purchase between April 9, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan) Combine this tax credit with the current down payment assistance programs available in Los … (0 comments)
American Dream Down Payment Initiative (ADDI) - 6% Down Payment Assistance for Low Income First Time Homebuyers within the City of Los Angeles. City of Los Angeles Housing Department’s Mortgage Credit Certificate Program (MCC) – Allows an eligible homebuyer to claim an annual federal income tax credit and is applied to a portion of the total mortgage interest paid every year for the duration of the first mortgage loan. Neighborhood Stabilization Program – Up to $75,000 for low income and $50,000 for moderate income when purchasing foreclosure or foreclosed properties located within the NSP Priority Area. 2009 Federal Tax Credit (IRS … (0 comments)
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