firsttime buyer: Work & Live College Park Program
- 02/07/10 12:44 PM
The Work & Live College Park Program provides eligible home-buyers with up to 10% of the value of a home purchase up to $35,000 to use as a downpayment on a foreclosed home in College Park. To be eligible: Prospective purchase home must be located in College Park and the home-buyer must also work in College Park. Must be a foreclosed home. Must be a first-time home-buyer using this as their primary residence. Purchaser must have a minimum $2000 to contribute to the process. Must be a 30 year fixed rate loan. Purchaser must meet the Program's income requirements. The Work … (4 comments)
firsttime buyer: Time is Ticking Away on the $8000 tax credit!
- 09/04/09 01:59 AM
Your Browser Does Not Support Frames. Use this link instead. Any home over $80,000 qualifies for the full tax credit. Homes under $80,000 qualify for a credit of 10% of the purchase price (E.G. $65,000 home qualifies for a $6500 tax credit). To qualify for the credit the purchaser & the purchaser's spouse must be first-time home buyers. Any single person who makes less than $75,000/per year ($150,000 for a married couple) qualifies for the full credit. The credit phases out at higher income levels. The tax credit does not need to be repaid provided the buyer does not sell the home … (5 comments)
firsttime buyer: Real Estate Terms - First Time Home Buyer
- 07/08/09 01:25 AM
We hear the term first-time home buyer a lot. However, I gets lots of question as to who exactly counts as a first-time home buyer. Federally To qualify for the 2009 first time home buyer $8000 tax credit a person must not have had any ownership interest in a home the three years previous to the DAY of the 2009 sale. This means that if you had owned a home in the past but sold it 5 years ago, you would qualify as a first-time home buyer. If you own rental property you may still qualify if you have not owned a property … (2 comments)
firsttime buyer: 2009 $8000 Tax Credit
- 07/06/09 12:59 PM
I get lots of questions from buyers about how this $8000 tax credit program works: Any home over $80,000 qualifies for the full tax credit. Homes under $80,000 qualify for a credit of 10% of the purchase price (E.G. $65,000 home qualifies for a $6500 tax credit). To qualify for the credit the purchaser must be a first-time home buyer. Any single person who makes less than $75,000/per year ($150,000 for a married couple) qualifies for the full credit. The credit phases out at higher income levels. The tax credit does not need to be repaid provided the buyer does not sell the home within … (0 comments)
firsttime buyer: Multiple Offers - An Update
- 02/12/09 11:12 PM
I submitted an offer on a short sale that eventually received 10 offers. I am amazed at how organized a process it was. We submitted online and received an email to say that the complete offer was received, and then one when the offer was submitted. We eventually received an email to say that our offer was being "respectfully declined". Naturally my buyer was disappointed. However, we were relieved that they did not drag out the process. We got the answer slighltly less than 2 weeks from the time the offer was submitted. Maybe we can hold out hope that the … (4 comments)
The Work & Live College Park Program provides eligible home-buyers with up to 10% of the value of a home purchase up to $35,000 to use as a downpayment on a foreclosed home in College Park.
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