I met for dinner last night with a bunch of my old buds from my Duke Power (Energy) days. I spent the better part of my adult life there working with a bunch of great folks, and we still get together occasionally. This dinner (euphemism for beer and nachos) was on the occasion of the [...]
Posts Tagged ‘first time homebuyers’
Housing Tax Credit Extended and Expanded
Posted in Finance, General Real Estate Market, Real Estate, tagged $8000 tax credit, economy, first time home buyer tax credit, first time home buyers, first time homebuyers on November 5, 2009 | Leave a Comment »
I just read that the Home Buyer Tax Credit has now passed the House and the Senate, both by overwhelming votes and will go to the President for signature in the next few days. President Obama has already said he would sign the bill when it comes to him. This extends the deadline for first time [...]
IRS Q&A on First Time Home Buyer Tax Credit
Posted in Finance, Real Estate, tagged $8000 tax credit, first time home buyers, first time homebuyers, home buyer tax credit on September 10, 2009 | 3 Comments »
We’re closing in on the final date to be able to claim the up-to-$8,000 first time home buyer tax credit. Home purchases have to be closed by November 30, 2009. Since it’s taking up to six weeks from contract to close on home loans, a first time buyer needs to have found the house they [...]
First Time Home Buyer Tax Credit News
Posted in Finance, General Real Estate Market, tagged first time home buyers, first time homebuyers, tax credit on June 2, 2009 | Leave a Comment »
I told you last week that HUD has decided to allow FHA approved lenders to offer a bridge loan in order to enable first time home buyers to use the $8,000 tax credit for additional down payments and closing costs (FHA still requires the buyer to provide a minimum 3.5% down payment). I’ve talked to several lender [...]
$8,000 Tax Credit Now Available Up Front
Posted in Finance, General Real Estate Market, Real Estate, tagged $8000 tax credit, first time home buyers, first time homebuyers, HUD on May 29, 2009 | Leave a Comment »
Great news for first time home buyers that we’ve been hoping for! Today, Shaun Donovan, secretary of the Department of Housing and Urban Development announced that they’ve worked out the details of allowing lenders to make a bridge loan to first time home buyers for the $8,000 tax credit so that it can be used [...]
Another First Time Home Buyer Incentive from NC
Posted in Finance, General Real Estate Market, tagged first time home buyers, first time homebuyers, NCHFA on May 21, 2009 | Leave a Comment »
Of course, we’re happy to have the $8,000 first time home buyer tax credit from the feds. We’ve seen quite a few people use that. Trouble is that you have to have cash available up front for the down payment and closing costs. The feds are trying to figure out how to give the tax credit [...]
$8,000 First Time Home Buyer Tax Credit Bridge Loan?- Hold on There a Minute!
Posted in Finance, General Real Estate Market, Real Estate, tagged $8000 tax credit, first time home buyers, first time homebuyers on May 19, 2009 | 2 Comments »
Got this from the North Carolina Association of Realtors Government Update from last Friday (5/15/09): “HUD Reconsidering Tax Credit Use for Down Payment HUD is apparently delaying its determination that the $8,000 first time homebuyer tax credit can be used for down payments. This Tuesday, Shaun Donovan, secretary of the U.S. Department of Housing and [...]
Now on Sale!- A House for You
Posted in Real Estate, tagged first time homebuyers, Home Buyers, homebuyers, tax credit on April 24, 2009 | Leave a Comment »
OK, let’s review: House prices have come down to the lowest levels in years. There’s some evidence that many markets are finding a bottom. Morgage Rates are around 4.75% for a 30 year conventional loan or 6% for a jumbo (over $417,000). USDA mortgage loans that offer no money down transactions for qualifying buyers are [...]
First Time Homebuyer- Could You Use $8,000?
Posted in Finance, General Real Estate Market, Real Estate, tagged first time homebuyers, homebuyers, tax credit on April 23, 2009 | 1 Comment »
I keep running into people who don’t know about the government incentive to encourage first time homebuyers to go ahead and make that purchase. For gosh sakes, you can get up to $8,000 free and clear for buying a house. This is not a tax deduction like mortgage interest. This is cash that the government will [...]
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