Monday June 8, 2009 1:30 pm ET
Rate Update:
30 yr Conforming ($417,000 loan amount cap)........ 5.375%
30 yr Fha ($346,250 loan amount cap)................... 5.500%
30 yr Jumbo............................................................ 5.750%
Monday, June 8, 2009
Wednesday, June 3, 2009
Today is a great day to buy or sell real estate!
If the price of the house is right, it will sell! We have multiple offers on our new listing in Marietta in just 3 days on the Market!
See more info on the house by clicking here
See more info on the house by clicking here
Tuesday, June 2, 2009
Tuesday, May 12, 2009
Exciting change to the first time Home Buyers tax credit!
First time home buyers can now get the $8000 free money at the closing table! With FHA they may not have to wait until they file next year, or even wait 6-10 weeks for a 2008 amendment to be returned!
The secretary of the U.S. Department of Housing and Urban Development, said today that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8000 tax credit for closing costs!
FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.
Email Jon to find out more
The secretary of the U.S. Department of Housing and Urban Development, said today that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8000 tax credit for closing costs!
FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.
Email Jon to find out more
Tuesday, April 28, 2009
Own this 4 bedroom home for $1000/month
This is a pre-approved short sale / pre-foreclosure that will not last long.
A first time home buyer can get in this home with a full down payment rebate and about $1000/month
Approved by the bank for sale at $169,000!
Here is an example of how that might break down for a buyer.
3.5% down payment through FHA is about $5900 down plus some closing costs
FHA rate that was quoted today for 30 year fixed was 4.6% this makes the P/I payment ~$835.00
A quick estimate the other costs of ownership brings us to...
Property taxes ~$150
Insurance ~$ 40
FHA Mort. Ins ~$ 30
HOA dues ~$ 30
Total-------->~$1085
Wait... that's more than $1000.00? The savings comes in the form of tax deductions home owners enjoy, that renters do not.
The $7500 in interest that was paid to the bank as well as the $1800 in property taxes and any other itemized deductions, business expenses, medical costs or charitable donations, I'll assume another $3000 for this example.
That brings the itemized deduction total to $11,300... the single standard deduction is $5,350 which means the owning this home, instead of renting, reduces your taxable income by an additional $6,950... if this was taxed at 15%... You save $1040 in taxes or about $85 per month
Wednesday, April 8, 2009
3 good reasons to Buy a home as soon as you can!
1. Investing in Real estate right now is probably the best investment you can make. The rental Market is booming. Real estate is on sale and Money is cheap! It's easy in todays market to find a rental property that will cash flow bringing you passive income while your tenant builds equity for you. You'll have passive income from the property over the next 3 years while the market stabalizes, then your equity will begin to increase when real estate values begin to rise again 2-4 years from now!
2. First time home buyers get $8,000.00 free money from the government. NOW to Dec. 1, 2009… available to first-time qualified buyers for the purchase of a principal residence. The credit does NOT require repayment. It’s claimed on a tax return to reduce your income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser. Not to mention the tax advantages you get on your mortgage interest deduction too!
You don't even have to wait until your 2009 tax returns, you can ammend your 2008 file after closing and get the $8,000 credit THIS YEAR!
3. Foreclosed properties are everywhere you look. While they aren't always a better deal they do however offer unique opportunities. If you're a qualified buyer, you can use an FHA loan to buy one of HUD's specifically designated homes for sale -- with only a $100 down payment!
For a limited time, $100 down payments are available to owner-occupied home buyers when purchasing a HUD home for full price and using an FHA-insured new home loan. The $100 replaces the 3.5% down payment.
This is a national program, and there are qualifying homes in every state. click here to search for a HUD foreclosure
For more information, visit our website or Email Jon
2. First time home buyers get $8,000.00 free money from the government. NOW to Dec. 1, 2009… available to first-time qualified buyers for the purchase of a principal residence. The credit does NOT require repayment. It’s claimed on a tax return to reduce your income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser. Not to mention the tax advantages you get on your mortgage interest deduction too!
You don't even have to wait until your 2009 tax returns, you can ammend your 2008 file after closing and get the $8,000 credit THIS YEAR!
3. Foreclosed properties are everywhere you look. While they aren't always a better deal they do however offer unique opportunities. If you're a qualified buyer, you can use an FHA loan to buy one of HUD's specifically designated homes for sale -- with only a $100 down payment!
For a limited time, $100 down payments are available to owner-occupied home buyers when purchasing a HUD home for full price and using an FHA-insured new home loan. The $100 replaces the 3.5% down payment.
This is a national program, and there are qualifying homes in every state. click here to search for a HUD foreclosure
The Georgia Dream program provides $14,000 to eligible borrowers purchasing a foreclosure. The Money is given as a second mortgage lien with no interest and no monthly payments. The lien is released over a period of five years and six months and can be used for needed repairs or even down payment assistance!
For more information, visit our website or Email Jon
Tuesday, April 7, 2009
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