First Time Home Buyer Tax Credit for 2009
John Thomas
May 31, 2009
Here are the highlights for the First Time Home Buyer Tax Credit for buying a home in 2009.
Mortgage Loans
Delaware First Time Home Buyer Seminar – April 18, 2009
John Thomas
April 8, 2009
There will be a Free Delaware First Time Home Buyer Seminar on Saturday, April 18, 2009, at 10:00 AM. The seminar will last about 2 hours and each participant will be able to receive a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Delaware. The seminar will cover Delaware FHA loans, Delaware VA loans, Delaware USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the Delaware 203k Rehab loans. Learn how to get $8,000 tax credit for buying a home in 2009. That is a check for $8,000 from the IRS to you at tax time just for buying a home! The best thing is you don’t have to ever pay the $8,000 back!!
New $8,000 Tax Credit for Delaware First-time Home Buyers
John Thomas
March 30, 2009
Great news for first-time home buyers in 2009! The stimulus plan that President Obama signed into law contains a new $8,000 tax credit for qualified first-time home buyers. And, unlike the $7,500 tax credit from last year, this credit does NOT have to be repaid to the government, as long as you stay in the home for at least 36 months after the purchase date. Remember, a tax credit is much more valuable than a tax deduction. A tax credit reduces dollar for dollar the amount of tax you owe. A deduction merely reduces the amount of your income that is taxable. This means the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Who?
FHA Cash-out Refinances Just Got Tougher in Delaware
John Thomas
March 23, 2009
Effective April 1, 2009, Delaware homeowners looking to take cash out on their homes, will have a tougher time.
According to a letter issued by the Federal Housing Authority (FHA), FHA plans to make it tougher for borrowers to secure a cash-out refinance mortgage.
Until now homeowners only needed to have 5% equity in their properties and have a record of on-time payments for at least the last twelve months. January 1, 2009, FHA required two appraisals for cash-out above 85% LTV. Now there are eliminating cash-out above 85% LTV all together for Delaware Home Owners.
Delaware Mortgage Rates – March 17, 2009
John Thomas
March 17, 2009
This is my daily advice on floating or locking your Delaware Mortgage Rate for Tuesday, March 17, 2009.
The stock market closed up today over 150 points. The mortgage-backed securities closed up 6 basis points as the bond market waited for what the Federal Reserve will say tomorrow after their meeting. The federal reserve will be discussing if they will continue buying mortgage-backed securities after June and if they will start buying Treasuries. This should help to keep rates low.
I recommend FLOATING your Delaware Mortgage Rate into tomorrow’s meeting.
Delaware FHA Loan Changes – Max LTV going to 85% for cash-out on April 1st
John Thomas
March 16, 2009
Tags: Delaware FHA Loan
FHA loans will currently let you take cash out of your home up to a maximum of 95% loan to value. The guideline changed on January 1, 2009, to require you to have two appraisals for cash-out above 85% loan to value. Now the guidelines will change again on April 1, 2009, so that the maximum loan to value for cash-out refinances in Delaware for FHA loans will be 85%. If you get your FHA case # assigned before April 1, 2009, you can still go to 95% on your loan. So you don’t have to close by April 1st.
So if you have been considering refinancing to do debt consolidation then you need to hurry up because debt consolidation is considered cash-out. If you have questions or need help with an FHA loan, please call me at 302-703-0727 or APPLY ONLINE
John R. Thomas – NMLS 38783
Certified Mortgage Planner – Primary Residential Mortgage, Inc.
302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office
248 E Chestnut Hill Rd, Newark, DE 19713
Delaware Mortgage Rates – March 16, 2009
John Thomas
March 16, 2009
This is my daily advice for floating or locking your Delaware Mortgage Rate for Monday, March 16, 2009
The stock market finished down today after ending last week with triple-digit gains, please visit http://biz.yahoo.com/ap/090316/wall_street.html for the full story. Ben Bernake said that he believes the economy would recovery by end of 2009, here is a video of his speech http://www.reuters.com/news/video?videoId=46895 .
The mortgage-backed securities started the day off down but recovered to the only end the day down 6 basis points. MBS have been trading in a tight trading range. Home loans were down about a 1/8 from Friday’s best rates.
I am recommending FLOATING your Delaware Mortgage Rate for Monday, March 16, 2009.
If you need help or advice with a Delaware Home Loan please call me at 302-368-7132 or send an e-mail to DelawareMortgages@yahoo.com
I can help with Delaware FHA Loans, Delaware VA Loans, Delaware USDA Loans, Delaware Reverse Mortgages, Delaware First Time Home Buyer Programs, Delaware Investor Loans, and Delaware Commercial Loans.
If you are a Delaware First Time Home Buyer then you should register to attend one of our monthly First Time Home Buyer Seminars. The next one is March 28, 2009, at 10:00 am and then again on April 18th. If you would like to register please call 302-368-7132 or send an e-mail to DelawareMortgages@yahoo.com
If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.
John R. Thomas – NMLS 38783
Certified Mortgage Planner – Primary Residential Mortgage, Inc.
302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office
248 E Chestnut Hill Rd, Newark, DE 19713
Delaware Mortgage Rates – March 5, 2009
John Thomas
March 5, 2009
This is my daily advice on floating or locking your Delaware Mortgage Rate for Thursday, March 5, 2009.
The stock market recovered yesterday about 130 pts but gave it back today. Bad news from GM pulled stocks down. The world banks lowered interest rates again. All of this and more details on Obama’s plan to help people refinance has pushed the mortgage-backed securities to break through a tough ceiling of resistance. This has caused home loan rates to improve significantly.
I am recommending FLOATING your Delaware Mortgage Rate for Thursday, March 5, 2009.
If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.
John R. Thomas – NMLS 38783
Certified Mortgage Planner – Primary Residential Mortgage, Inc.
302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office
248 E Chestnut Hill Rd, Newark, DE 19713
