fha loans lancaster ca: More FHA Changes headed our way
- 01/20/10 10:26 AM
Changes to FHA loans are headed our way this summer. The up front mortgage insurance premium (Financed back into the loan) will be changing from the current 1.75% to 2.25%. There is also a change to the seller credit for FHA loans, currently we are sitting at 6% in allowable seller credit toward recurring and non recurring closing cost, the new guidelines will limit seller participation to 3%. There are also rumors of the monthly mortgage insurance increasing as well, this is part of the homebuyers total payment, so this change would make the monthly payment increase for thoose seeking FHA … (0 comments)
fha loans lancaster ca: First Time Buyer Tax Credit Extended. Read below with Q&A
- 11/06/09 05:02 AM
Homebuyer Tax Credit Update! On November 6, 2009, President Obama signed a bill to extend the tax credit for first-time homebuyers (FTHBs) through June 30, 2010. The bill also opens up opportunities for others who are not buying a home for the first time.
TAX CREDIT OVERVIEW Who Gets What? First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000 Single taxpayers and married … (0 comments)
WASHINGTON - Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers. The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November. The Commerce Department said Wednesday that new home sales fell 3.6 percent in September, and some industry representatives blamed uncertainty about the tax credit. Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of … (1 comments)
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Ryan Morrow
Ryan Morrow Branch Manager Sierra Pacific Mortgage
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