Tax Credit Loan Program: The "Prefund" Program

By
Real Estate Agent with KW Hometown 1756879

Tax Credit Loan Program

The "Prefund" Program

Looking for a way to use the $8,000 tax credit NOW to buy a home?

  Need help with a down payment?

Steve Kappre - Helping you make "cents" of it allTreasury Mortgage is at the forefront offering a "prefund" program to qualified home buyers, allowing them to purchase a home NOW utilizing the government's tax credit program. If a buyer is eligible for the First-Time Home Buyer Tax Credit, than they may also qualify to utilize that same tax credit money NOW for the required down payment needed to buy their first home.

In a nutshell, you are given a short term loan for the tax credit money, and you pay it back after you get your tax credit next tax season. It is a simple concept. And since the prefund amount is $5,000, you may also have tax credit money left over for whatever you like.

Call Steve Kappre today to gather more information and to get pre-approved for this program for First-Time Home Buyers. (Those not owning a home in the last 3 years).

 

Steve Kappre

Treasury Mortgage - A Division of Aurora Financial Group

856-415-7720

856-419-3561 - cell

856-355-4760 - efax

steve@stevekappre.com

www.stevekappre.com

 

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Topic:
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Groups:
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New Jersey & Pennsylvania -- Realtors/Loan Officers/Title Clerks/Real Estate Lawyers
1st Time Buyers
All About NJ Real Estate
Gloucester County, NJ
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Rainmaker
85,233
Paul Howard
Paul Howard, Broker, Paul Howard Realty 856-488-8444 - Cherry Hill, NJ
Paul Howard Realty, 856-488-8444

Hey Steve,  I'll RT that on Twitter.  Good to know - what is the rate on the short term loan?

 

 

Apr 28, 2009 03:13 PM #1
Rainer
295,255
Stephen Kappre
KW Hometown - Mantua, NJ
Helping You Home

Rate is 0% if paid back within the period when you recieve the tax refund. If longer, than you have to pay the same rate as your first mortgage.

Apr 28, 2009 10:55 PM #2
Rainmaker
1,017,710
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

There are so many great opportunities for 1st time home buyers it is amazing. We have seen a large increase in the 1st time buyer market here in Mass.

Apr 29, 2009 12:05 AM #3
Ambassador
765,001
Christopher and Stephanie Somers - Realtors - Philadelphia Real Estate
Realtor / Owner - RE/MAX Access - Philadelphia, PA

Steve - That is a great program for 1st time buyers.  Like Bill said, 1st time buyers have a lot of opportunity right now, probably more than ever before !  They should all get off the fence and "Buy Buy Buy" !

 

Apr 29, 2009 12:11 AM #4
Ambassador
341,645
Paddy (Patricia) Pizappi
Better Homes and Gardens Rand Realty - Pine Bush, NY
Real Estate Associate Broker Hudson Valley NY

Very Interesting Steve.  Great info to have.

Apr 29, 2009 12:27 AM #5
Rainer
295,255
Stephen Kappre
KW Hometown - Mantua, NJ
Helping You Home

First-Time buyers do have a great deal of options in this market. Many of you that commented are in different states ... I would be interested to know if your area is offering similar programs.

Apr 29, 2009 12:58 AM #6
Rainmaker
381,194
Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

Hi Steve: One important point.  YOU DO NOT have to wait until next tax season.  You simply file a 2008 1040X which is an amended 2008 1040.  You include your credit on line 69 and file it - then you get your money right away!

:)

Apr 29, 2009 03:19 AM #7
Rainer
295,255
Stephen Kappre
KW Hometown - Mantua, NJ
Helping You Home

Matt - this is true, and I have forwarded the same info to my pertinent clients. Some of them even had to advise their tax accountant on this (?). The program above though is to get up to a $5,000 upfront amount to use for downpayment and/or closing costs to purchase the home in the first place.

Apr 29, 2009 05:34 AM #8
Ambassador
2,492,180
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Having read it now, I apologize for not seeing it sooner, but in my defense, it was set up as a program that you were offering, and not as a generic read for a state wide program. Nevertheless being ahead of the pack is not a bad thing.

May 04, 2009 06:58 AM #9
Rainer
295,255
Stephen Kappre
KW Hometown - Mantua, NJ
Helping You Home

Ed - No apologies needed whatsoever. I'm only doing NJ and PA. If by chance I find one in another state (CT), I'll try and remember your information to send them to you. Thanks for stopping by!

May 04, 2009 07:33 AM #10
Anonymous
Steve McDonald

Great information Steve !  How does a consumer go about qualifying for this prefunded tax loan ?

May 18, 2009 06:56 AM #11
Rainer
295,255
Stephen Kappre
KW Hometown - Mantua, NJ
Helping You Home

Steve - One would have to be approved with a qualifying lender, that is a lender offering this option. Guidelines are the same as the rest of the mortgage finance agency options, that is namely FHA, VA, or conventional guidelines depending on what option you choose.

Aug 04, 2009 01:35 PM #12
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Rainer
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Stephen Kappre

Helping You Home
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