mortgage: ABQ realtors pitch in to fill mortgage gap
- 09/09/11 07:06 AM
Nineteen Albuquerque real estate brokers from 13 different companies are working together with Sunwest Trust to fill a vacuum created by the tight credit restrictions that make it virtually impossible for many people to get mortgage loans. Consider:
· Mortgage denial rates were up nationwide by 15% in 2010, and are anticipated to be higher still in 2011 · New Mexico has the 6th highest mortgage denial rate in the country, with 33.7% of loans denied in 2010 · Denial rates are even higher among minority applicants and self-employed borrowers, and “jumbo loans” requiring higher … (0 comments)
mortgage: $8,000 First-Time Homebuyer Tax Credit- Refundable!
- 03/16/10 06:36 AM
This is a dollar-for-dollar tax reduction offered only to first-time homebuyers. Credit amount is 10 percent of the value of the home, not to exceed a maximum of $8,000 (no credit is available for homes with a purchase price of more than $800,000). This tax credit is offered to the first-time purchaser of a sinyngle-family home (including condos) that is to be used as a primary residence (purchases from close relatives are exempt). Purchasers who utilize the NMMFA Bond Program are also eligible to recieve this credit. The income limit for this credit is $125,000 for an individual or head-of-household (Form … (0 comments)
mortgage: $6,500 Trade-Up Homebuyer Tax Credit- Refundable!
- 03/16/10 06:05 AM
This tax credit is offered for the purchase of any single-family home (including condos) that is to be used as a primary residence (purchases from close relatives are exempt). To be eligible, one must be a long-time resident that has lived in the same primary residence for 5 consecutive years within the 8-year period prior to the purchase of the home. The borrower must be 18 years of age or older, and must not be filed as a dependent. The income limit for this credit is $125,000 for an individual or head-of-household (Form 1040) and $225,000 for those filing a joint … (3 comments)
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