According to the first quarter 2009 Texas Housing Affordability Index compiled by the Real Estate Center at Texas A&M University, Texas is the state with the most affordable housing in the nation.
This make Texas, and particularly our Austin metro and Highland Lakes area particularly attractive to First Time Home Buyers....Affordable Homes, Job Creation, a Wonderful Lifestyle.
Plus, through November 30th, all first time buyers (or those who haven't owned a home in 3 years) have a tremendous advantage with the $8,000 First Time Buyer Tax Credit from the Federal Government. It's free, it's easy and it's waiting for you. But, HURRY, time is running out for you to get your $8000 Tax Credit.
Contact us today to get pre-qualified for a loan to see if you can join the many others who are taking advantage of this great program. Call or email us for a FREE First Time Home Buyers Guide.
Sue Ellett, Broker-Assoicate
Coldwell Banker United Realtors
512-422-7182
suemellett@yahoo.com
Monday, September 21, 2009
Thursday, September 3, 2009
First Time Home Buyer Book - FREE to First Time Central Texas Home Buyers
Call or email for your FREE First Time Home Buyer Booklet.
(Central Texas)
This booklet is Free and full of information for First Time Home Buyers to help them in the Home Buying process.
(Central Texas)
This booklet is Free and full of information for First Time Home Buyers to help them in the Home Buying process.
Thinking of buying your first home? Now is a GREAT TIME, especially with low house prices and interest rates and the $8,000 First Time Buyer Tax Credit. This book will help you navigate the process with ease.
Contact us at Paragon Property Group - 866-693-7741 or email suemellett@yahoo.com and we'll mail your FREE booklet today. We can help!
(limit one booklet per address)
Contact us at Paragon Property Group - 866-693-7741 or email suemellett@yahoo.com and we'll mail your FREE booklet today. We can help!
We cover the entire Austin, Lake Travis and Marble Falls/Burnet/Highland Lakes areas
(Travis, Burnet, Llano, Hays, Williamson, Blanco and Gillespie counties). Some areas offer 100% USDA financing (income limits apply)
Not located in our area? We can refer you to a qualified 1st Time Home Buyer professional in your area.
Moving to another area? We'll be sure that you receive a FREE Relocation Package.
(Travis, Burnet, Llano, Hays, Williamson, Blanco and Gillespie counties). Some areas offer 100% USDA financing (income limits apply)
Not located in our area? We can refer you to a qualified 1st Time Home Buyer professional in your area.
Moving to another area? We'll be sure that you receive a FREE Relocation Package.
(limit one booklet per address)
Tuesday, September 1, 2009
Great News about NEW Credit Scoring Model - Could Boost Your Scores
Read all about it here: New Credit Scoring Model May Boost Some Borrowers’ Scores | RISMedia
In the newest version of the credit scoring system, called FICO 08, small missed paymenets lingering in collections with original amounts of less than $100 will no longer damage your credit rating. Plus you are less likely to be penalized for a single delinquency if it was two or more years ago and your credit is otherwise clean.
But, don't forget: Getting close to your Credit Card Limits is still a strict NO-NO and is penalized in some way in every FICO score.
This new system has been available to all three credit bureaus since last month, so if your credit is otherwise clean except for one or two small glitches, keep it that way and now you may actually have a better credit score.
Plus, don't forget, to get the $8000 tax credit, you MUST close by 12/1/09. So, call us today if you are thinking of buying a home in the Austin or Highland Lakes areas (Travis, Hays, Williamson, Blanco, Burnet or Llano counties) and we will get you pre-qualified in just a couple of hours.
In the newest version of the credit scoring system, called FICO 08, small missed paymenets lingering in collections with original amounts of less than $100 will no longer damage your credit rating. Plus you are less likely to be penalized for a single delinquency if it was two or more years ago and your credit is otherwise clean.
But, don't forget: Getting close to your Credit Card Limits is still a strict NO-NO and is penalized in some way in every FICO score.
This new system has been available to all three credit bureaus since last month, so if your credit is otherwise clean except for one or two small glitches, keep it that way and now you may actually have a better credit score.
Plus, don't forget, to get the $8000 tax credit, you MUST close by 12/1/09. So, call us today if you are thinking of buying a home in the Austin or Highland Lakes areas (Travis, Hays, Williamson, Blanco, Burnet or Llano counties) and we will get you pre-qualified in just a couple of hours.
Tuesday, August 11, 2009
Filing for your $8,000 First Time Buyer Tax Credit
So, you've made your move and purchased your first home!
First, Congratulations!
Second, you'll want to go ahead and file for your First Time Home Buyer Tax Credit, but should you file and amended 2008 return or wait and file with your 2009 Federal Income Tax?
Whether you are filing on your 2008 return or your 2009 return, visit the IRS Web site and download Form 5405 (PDF 257KB) . This is a very short form and takes just moments to complete.
Don't forget, if you haven't yet purchased your first home, the tax credit is only available on homes purchased and CLOSED by 11/30/09.
If you are thinking of buying a home in the Austin or Highland Lakes areas, give us a call and we can send you a First Time Home Buyer Booklet to help you through the process. We'll be happy to help you find the perfect home and get it closed before the deadline. Call us today at 866-693-7741 for more information.
First, Congratulations!
Second, you'll want to go ahead and file for your First Time Home Buyer Tax Credit, but should you file and amended 2008 return or wait and file with your 2009 Federal Income Tax?
Whether you are filing on your 2008 return or your 2009 return, visit the IRS Web site and download Form 5405 (PDF 257KB) . This is a very short form and takes just moments to complete.
- On line 1, enter either $8,000 or 10 percent of the home purchase price, whichever is smaller. (in order for the credit to be less than $8,000, the purchase price would have to be $79,999 or less, so most people will qualify for the full $8,000 credit).
- On line 2, enter your adjusted gross income.
You can find your gross adjusted income on line 37 of Form 1040 from your 2008 Tax return.
- If your adjusted gross income is greater than $75,000 (individual) or your joint income is more than $150,000, you'll have to complete some additional calculations to determine your credit amount.
- Everyone else (income under $75,000 individual or under $150,000 joint) you can just enter the tax credit amount on Line 6.
Don't forget, if you haven't yet purchased your first home, the tax credit is only available on homes purchased and CLOSED by 11/30/09.
If you are thinking of buying a home in the Austin or Highland Lakes areas, give us a call and we can send you a First Time Home Buyer Booklet to help you through the process. We'll be happy to help you find the perfect home and get it closed before the deadline. Call us today at 866-693-7741 for more information.
Friday, August 7, 2009
Using your $8,000 First Time Home Buyer Credit
So, you've decided to to buy your first home and now it's time to apply for your first time Home Buyer's Credit - What are the steps you need to take?
- Close on your home purchase by November 30, 2009,
- Make sure that you are a qualified first-time buyer under IRS guidelines,
- Decide which year to file under, 2008 or 2009
- File an amended 2008 return or choose to apply the credit to your 2009 tax return.
If you live in Austin or the Highland Lakes area of Texas, give us a call or send us an email and we can help you find your first home.
Friday, July 31, 2009
New - Statewide 2nd Lien Downpayment Assistance Program
FIRST TIME HOMEBUYER in Texas?? - now is the time to take a look a buying your own home!
Here in the Austin and Highland Lakes areas of Travis, Burnet, Hays, Llano, Blanco and Hays counties, you may be able to take advantage of the First Time Homebuyer Tax Credit as a downpayment. There are many reasonably priced homes in our area and plenty of bargains, so it's a great time to buy!
Thinking of buying a home and using the $8,000 Federal Tax Credit? There is a new program to help use this $8,000 tax credit as a downpayment. Call us at Paragon Property Group for more information.
The Texas Department of Housing and Community Affairs (TDHCA) has announced two new downpayment assistance programs that allow you to take advantage of a short term loan prior to filing and receiving the First Time Homebuyer Tax Credit. The program is outlined below.
90 Day Down Payment Assistance Program
5% of the first lien mortgage amount up to a maximum of $7,000 for down payment and/or closing costs.
Program is only available in onjunction with first lien mortgage loans originated by a participating lender.
0% interest for 90 days.
Failure to repay within 90 days results in a monthly payment of principal & interest for 2 years with an interest rate of 10% This translates into a second lien note of $7,000 which is about $323/month.
Income limit for single taxpayers is $75000 and $150,000 for married taxpayers filing a joint return.
Mortgage Advantage Program
5% of the first lien mortgage amount up to a maximum of $6,000 for a down payment and/or closing costs.
The tax credit is equal to 10% of the home's purchases price up to a a maximum of $8000.
Homebuyers must meet the First Time Homebuyer or Mortgage Credit (MCC) Program guidelines.
0% interest for 120 days.
Failure to repay the down payment assistance loan in full within 120 days will resul in monthly payments of principal and interest for 5 years with an interest rate of 7%. Using this scenario, a homebuyer borrowing the maximum of $6,000 would have a second lien note of approximately $119/month.
Applicable income limits for the Texas First Time Homebuyer or Texas Mortgage Credit Programs.
Both of the programs require the homebuyer to complete a pre-purchase homebuyer education course. Homebuyers must be eligible to claim the federal first time homebuyer tax credit (can not have owned a home in the last 3 years). Homebuyers must complete IRS Form 5405 and file an amended 2008 IRS federal tax return.
All purchases msut close by December 1, 2009.
Funds area available on a first come, first served basis.
The tax credit must be repaid to the IRS if the borrower sells or moved from the home within 3 years of purchase.
There is a $250 administrative fee for either program.
Tax refunds are generally processed within 8-12 weeks. TDHCA recommends that each taxpayer consult with their tax advisor on how to maximize their benefits.
For current available program funds please visit the Available Funds page.
Here in the Austin and Highland Lakes areas of Travis, Burnet, Hays, Llano, Blanco and Hays counties, you may be able to take advantage of the First Time Homebuyer Tax Credit as a downpayment. There are many reasonably priced homes in our area and plenty of bargains, so it's a great time to buy!
Thinking of buying a home and using the $8,000 Federal Tax Credit? There is a new program to help use this $8,000 tax credit as a downpayment. Call us at Paragon Property Group for more information.
The Texas Department of Housing and Community Affairs (TDHCA) has announced two new downpayment assistance programs that allow you to take advantage of a short term loan prior to filing and receiving the First Time Homebuyer Tax Credit. The program is outlined below.
90 Day Down Payment Assistance Program
5% of the first lien mortgage amount up to a maximum of $7,000 for down payment and/or closing costs.
Program is only available in onjunction with first lien mortgage loans originated by a participating lender.
0% interest for 90 days.
Failure to repay within 90 days results in a monthly payment of principal & interest for 2 years with an interest rate of 10% This translates into a second lien note of $7,000 which is about $323/month.
Income limit for single taxpayers is $75000 and $150,000 for married taxpayers filing a joint return.
Mortgage Advantage Program
5% of the first lien mortgage amount up to a maximum of $6,000 for a down payment and/or closing costs.
The tax credit is equal to 10% of the home's purchases price up to a a maximum of $8000.
Homebuyers must meet the First Time Homebuyer or Mortgage Credit (MCC) Program guidelines.
0% interest for 120 days.
Failure to repay the down payment assistance loan in full within 120 days will resul in monthly payments of principal and interest for 5 years with an interest rate of 7%. Using this scenario, a homebuyer borrowing the maximum of $6,000 would have a second lien note of approximately $119/month.
Applicable income limits for the Texas First Time Homebuyer or Texas Mortgage Credit Programs.
--------------------------------------------------
Both of the programs require the homebuyer to complete a pre-purchase homebuyer education course. Homebuyers must be eligible to claim the federal first time homebuyer tax credit (can not have owned a home in the last 3 years). Homebuyers must complete IRS Form 5405 and file an amended 2008 IRS federal tax return.
All purchases msut close by December 1, 2009.
Funds area available on a first come, first served basis.
The tax credit must be repaid to the IRS if the borrower sells or moved from the home within 3 years of purchase.
There is a $250 administrative fee for either program.
Tax refunds are generally processed within 8-12 weeks. TDHCA recommends that each taxpayer consult with their tax advisor on how to maximize their benefits.
For current available program funds please visit the Available Funds page.
Saturday, July 4, 2009
Get a Brochure about the 8K Tax Credit
Send us an email and we will forward you a brochure about the $8,000 Tax Credit for First Time Buyers.
It's a great time to Buy your first home.....rates are low, there are some good deals on homes in the Austin and Highland Lakes areas and the tax credit is ONLY good thru December 1st.
Don't let this wonderful opportunity pass you by - it's like FREE Money!
Did you know?
-In certain areas/counties, USDA loans can be used and offer up to 100% financing?
- FHA Loans only require 3.5% down and often we can get Sellers to pay up to 6% of your closing costs?
- Conventional loans may be available to borrowers with very good credit at only 5% down.
So, what are you waiting for? It's time to buy your own home!
Contact Brooke LeMond at 512-284-0799 for more information about buying your first home in Travis, Llano, Burnet, Blanco Williamson or Hays counties. brooke@brookelemond.com
Sue Ellett, Broker Associate
Paragon Property Group
Coldwell Banker United Realtors
512-422-7182
It's a great time to Buy your first home.....rates are low, there are some good deals on homes in the Austin and Highland Lakes areas and the tax credit is ONLY good thru December 1st.
Don't let this wonderful opportunity pass you by - it's like FREE Money!
Did you know?
-In certain areas/counties, USDA loans can be used and offer up to 100% financing?
- FHA Loans only require 3.5% down and often we can get Sellers to pay up to 6% of your closing costs?
- Conventional loans may be available to borrowers with very good credit at only 5% down.
So, what are you waiting for? It's time to buy your own home!
Contact Brooke LeMond at 512-284-0799 for more information about buying your first home in Travis, Llano, Burnet, Blanco Williamson or Hays counties. brooke@brookelemond.com
Sue Ellett, Broker Associate
Paragon Property Group
Coldwell Banker United Realtors
512-422-7182
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