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House Smart Realty, LLC
Connie Jurey

317-446-2559

Buyers

Tax Credit Extended to April 30, 2010
Must Close by June 30, 2010

Good information on the new Stimulus. 
 

 

Housing Stimulus Expanded

The First Time Home Buyer Tax has been extended. So much so that calling it by that name is only half the story.

To summarize the new bill, first-time home buyers will still be able to claim the $8000 tax credit until April 30, 2010. In addition, closing the sale isn’t required prior to the deadline. This credit would apply if a binding contract is in place by April 30, 2010; buyers have an additional 60 days to close the sale.
In addition, current homeowners who have maintained the home they want to sell as their primary residence for five of the last eight years are also eligible. In those cases, the maximum credit is lower: $6,500 or 10 percent of the sale price, whichever is least.

The previous credit included income caps of $75,000 and $150,000 for individuals and couples. The new bill lifts those caps to $150,000 and $225,000 for individuals and couples, respectively. The new version does, however, cap the purchase price of homes purchased; the credit may not be claimed when the purchase price is $800,000 or greater.

There are several other minor changes to the current credit through this legislation. You can see a side-by-side comparison of the two bills by clicking here.

For more information: FEDERALHOUSINGTAXCREDIT


If you have already purchased a home from me, this is the tax form you will need to use to receive the credit!  $8000taxcreditform


Ask me about USDA loans
100% Financing
NO PMI
FHA Rates


(click)  

 

 USDA Qualification Basics:
 
1.  Home has to be located in a USDA area (rural area), you can look up any home on the USDA website (above).
 
2.  Income limits apply.  Income for a family up to 4 people cannot exceed around $70,000 per year.  You can find out more on the USDA website (above).
 
3.  The home has to be your primary residence.
 
4.  You must occupy the home for certain period of time
 
5.  The funding fee for USDA is less than FHA or VA.
 
6.  There is no upfront Mortgage Insurance.
 
7.  There are no monthly Mortgage Insurance fees.
 
8.  The loan is guaranteed not insured like FHA or a Conventional loan.
 
9.   You can finance up to 103% 
 
10.  If the home appraises for the amount of the loan, there is no down payment required.
 

    
Homes Listed with House Smart Realty, LLC

COMING SOON!

    
Click here to search for listings on MIBOR

Mortgage calculators to calculate your payments

Buyers Agent

You pay no fees!  When I find you your dream home, you will not be charged for my services.  The way real estate agents are paid is on the seller's side of the deal, so there is no out of pocket expense to you for my services.  So tell me what you are looking for, where you want to live and give me a budget.  I will do the rest, set up showings at your convenience.  The only way you ever pay is if you buy a home with another agent.

BRUISED CREDIT?

We work with a few companies that can really help people if they have bruised credit.  Some things can be repaired with no money down.  There is no charge to evaluate your situation which will help you get on the right path to owning a home.  

Call me for more details on these and other finance programs and questions.  The sooner you get started the sooner you can take advantage of the LOW housing prices, LOW interest rates and HIGH tax credits!

317-446-2559


NEW HOME SPECIALIST

New Homes are my specialty.  Why you ask?  For the first time homebuyer this is one of the best ways to buy a home.  There are different programs to help the first time buyer, which I am very familar with.  Usually they have rented for at least a year and are eager to transition into home ownership. New homes are perfect for first time buyers who usually don't have the time or the money make costly repairs on their home.  The builder's home warrantee make it worry free for the first time buyer.

Here are some helpful tips for first time buyers:

A review of your income, savings, monthly expenses, and debt will be necessary. Early on in the process, you’ll want to get pre-qualified for a mortgage loan, which helps determine how much you can afford. It enables you to move swiftly when you find the right home, especially when there are other interested buyers. It also indicates to the seller that you are serious and can afford to buy the property. A pre-approval is a simple calculation done by a mortgage lender that tells you the amount you'll be able to finance through a loan and what your monthly payment will be. When you find a home to buy, a pre-approval also reassures the seller that you have the financial means to purchase his or her home. Know what you can afford is the first rule of home buying, and that depends on how much income and how much debt you have.

The price you can afford to pay for a home will depend on several factors, such as:

  • Gross Income
  • Monthly Debt
  • Credit History
  • Funds for Earnest Money, Down Payment, Closing Costs and Cash Reserves
  • Type of Mortgages
  • Current Interest Rate

As a first time home buyer you may qualify for a number of programs such as, Mortgage Credit Certificates (MCC), Bond Money, Down Payment Assistance, etc.

We can discuss your particular needs and wants on an individual basis.

                                        
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