Monday, March 23, 2009
Latest Interest Rates
Go inside my website www.JanetCummings for the latest interest rates on homes in Texas.
$8,000 Tax Credit for First-Time Home Buyers
A very hot topic for potential home buyers is the $8,000 tax credit included in the 2009 Stimulus Bill. This is the latest information that I have on the tax credit that was put into law 2/17/2009.
The new law is for first-time home buyers or those who have not purchased a home in the past three years. This
$8,000 tax credit does not have to be repaid, unlike the tax credit passed in the summer of 2008.
The program has been extended until December 1, 2009, so that consumers can utilize it during the critical summer and fall buying months.
In order to make sure that you receive your tax credit for a December 1st closing, you should go under contract by November 1st.
The new law is for first-time home buyers or those who have not purchased a home in the past three years. This
$8,000 tax credit does not have to be repaid, unlike the tax credit passed in the summer of 2008.
The program has been extended until December 1, 2009, so that consumers can utilize it during the critical summer and fall buying months.
In order to make sure that you receive your tax credit for a December 1st closing, you should go under contract by November 1st.
FIRST-TIME HOME BUYER TAX CREDIT
As modified in the American Recovery and Reinvestment Act
Major Modifications Italicized
February 2009
Amount of Credit
Maximum credit amount increased to $8,000.
Eligible Property
Any single family residence (including condos, co-ops, townhouses) that will be used as a principle residence.
Refundable
Yes. Reduces (or can eliminate) income tax liability for the year of purchase. Any unused amount of tax credit is refunded to the purchaser.
Income Limit
Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000
($150,000 for a joint return). Credit phases down for adjusted gross income above those caps ($95,000 and
$170,000.
First-time home buyers only
Yes. Purchaser (and spouse) may not have owned a principal residence in 3 years previous to purchase. You are then considered a "First-time Home Buyer" again.
Repayment
No. No repayment for homes purchased on or after January 1, 2009 and before December 1, 2009.
Recapture
If home is sold within three years of purchase, the entire amount of credit is recaptured on the sale. Applies only to homes purchased in 2009.
Termination
December 1, 2009.
Effective Date
All revisions are effective as of January 1, 2009.
For additional information, go to
Friday, March 20, 2009
Go to my website for current interest rates...
You can go to my website www.JanetCummings.Net to view the current interest rates in
todays market!
My lender can lock you in even before you are approved!
todays market!
My lender can lock you in even before you are approved!
Texas Best State to do Business...
For the fourth consecutive year, Texas has been identified as the best state in which to do business. They have evaluated regulatory issues, tax policies, education, quality of living and other factors.
Last year, San Antonio added 14,900 jobs to the area.
Currently, it appears USAA is moving 1,000 jobs to the San Antonio area!
According to the San Antonio Express News: Foreclosure postings halt climb in Bexar County...March numbers down12% from last month. San Antonio's foreclosure picture is better than the rest of the nation.
Mortgage Rates Fall to Record Lows
Mortgage rates tumbled to historic lows Thursday after the Federal Reserve decision to print $1.2 trillion and to pump it into the economy.
The Start of a New Blog !
Well, good morning and happy first day of Spring! I hope you will find the content on this blog informative and interesting if you are currently thinking about purchasing a home or selling your home.
There has never been a better time to purchase a home in San Antonio, Texas ! Interest Rates are down in the 4% range, homes can be purchased at lower prices than in years...what are you waiting for!
In San Antonio, THERE IS MONEY OUT THERE! And, I work with a lender that not only has access to money for those loans, but she will also take a look at your credit score, and look at the reasons behind the credit score if it is lower than you need...what are the reasons it is low...and determine from that whether or not to consider giving you the loan!
You can call me anytime at (210) 865-1132, and let's discuss your current situation and see
where we can go with it!
If you wait, those low interest rates can start going back up in a heartbeat...so, make that phone call now!
There has never been a better time to purchase a home in San Antonio, Texas ! Interest Rates are down in the 4% range, homes can be purchased at lower prices than in years...what are you waiting for!
In San Antonio, THERE IS MONEY OUT THERE! And, I work with a lender that not only has access to money for those loans, but she will also take a look at your credit score, and look at the reasons behind the credit score if it is lower than you need...what are the reasons it is low...and determine from that whether or not to consider giving you the loan!
You can call me anytime at (210) 865-1132, and let's discuss your current situation and see
where we can go with it!
If you wait, those low interest rates can start going back up in a heartbeat...so, make that phone call now!
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