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Sunday, July 17, 2011
Saturday, February 13, 2010
The Next Big Buyer Incentive
It is still a great time to buy a home for the first time home buyer but a lot of people aren't aware of the government funding money out there available for not only first time buyers but for buyers that are buying bank owned homes.It is called the Neighborhood Stabilization Program or NSP. It is an effort to take certain areas that have many bank owned forclosed homes and put owner occupied buyers into them.There are certain requirements of course for buyers and the area maps of the homes for sale are on the website that I will give you at the end of this article.This program has been around since 2008 but has not got much publication about it. I went to my lender and told him about it and he looked into it and now we are working with a buyer out of Klamath Falls that is purchasing a home using the funding.It is a second, fixed rate mortgage that does't have any interest and does't have to be paid back until you sell the home or refinance the home. The loan amount can be up to $50,000 depending on the area you are in. The homes have to be in a non USDA area, meaning homes in cities, not rual property.For more information or help in finding a mortgage lender who is familiar with this program, email me at steve@web2real.com or go to this link http://www.oregon.gov/OHCS/DO_HERA_Neighborhood_Stabilization.shtml
Thursday, March 12, 2009
$8,000 Tax Credit for Home Buyers | Economic Stimulus Plan Is Law
Highlights from the new $8000 Tax Credit for Home Buyers include;
Available only to first-time home buyers
The tax credit is not a loan and does not require repayment*
*If the home is sold within 3-years, the $8,000 tax credit must be re-paid
The tax credit reduces the home buyer’s tax liability; if the buyer’s liability is less than $8,000, the remaining credit will be issued as a check
Home purchase must be for a primary residence
The credit is available on home purchases between January 1, 2009 and December 1, 2009
If you are single and make $75,000 or more, or are married and make $150,000 or more, you do not qualify for the tax credit
The Buyer is not eligible for this tax credit if the Seller is a relative of the Buyer
Check out the "New Deal" for First Time Homebuyers Tax Credit of $8000 and other tax credits within this stimulus package.
Available only to first-time home buyers
The tax credit is not a loan and does not require repayment*
*If the home is sold within 3-years, the $8,000 tax credit must be re-paid
The tax credit reduces the home buyer’s tax liability; if the buyer’s liability is less than $8,000, the remaining credit will be issued as a check
Home purchase must be for a primary residence
The credit is available on home purchases between January 1, 2009 and December 1, 2009
If you are single and make $75,000 or more, or are married and make $150,000 or more, you do not qualify for the tax credit
The Buyer is not eligible for this tax credit if the Seller is a relative of the Buyer
Check out the "New Deal" for First Time Homebuyers Tax Credit of $8000 and other tax credits within this stimulus package.
Monday, March 9, 2009
Friday, February 13, 2009
Wednesday, February 11, 2009
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