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Tax Credit

Tax Credit for New Windows, Doors

Homeowners still have time this year to rack up a $200-$500 federal tax credit on new windows and doors, according to consumer website HouseLogic. The key is ensuring they install products that fit the Feds’ exacting standards. If you installed new windows and doors in 2012 and haven’t already taken advantage of the energy tax credit program,…

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VA financing for military veterans – a great opportunity

Did you know there are more than 27 million veterans eligible for VA financing? These potential home buyers enjoy significant loan advantages not available to non-veteran homebuyers. If you’re working with prospective home buyers right now, check with them to see if they are veterans. If they are, make sure they are aware of the…

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Tax Benefits of Owning a Home

There are multiple reasons why it’s a great time to buy a home: Interest rates are at a record low, home prices are attractive and, accordingly, overall affordability is at an all-time high. But there are other advantages that first-time home buyers often overlook: the tax benefits of home ownership. These benefits can save hundreds…

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Freddie Mac is getting much tougher on borrowers!

The derogatory credit policy as outlined below must be applied to all Freddie Mac loans, including loans run through LP. Be sure you understand the consequences before you make a credit altering decision! Short Sale: All short sales are now considered derogatory credit If the short sale was due to extenuating circumstances, the recovery time…

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Federal Homebuyer Tax Credit Closing Deadline Extended

After a close brush with the deadline, Congress has passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The legislation is designed to create…

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Best Time to Build a Home is Now

Mortgage Rates Hit an All-Time Low Average interest on a 30-year fixed mortgage fell to an all-time low of 4.69 percent this week, down from 4.75 percent a week ago, reports Freddie Mac. Do not expect these rates forever. Once the economy picks up rates will raise quickly. Build now to lock in these rates…

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How to Claim the Kentucky New Home Tax Credit

*The Kentucky New Home Tax Credit has been Extended. To qualify for this credit, home purchases must be concluded before January 1, 2011. *The Kentucky New Home Tax Credit is NONREFUNDABLE. This means that if your Kentucky tax liability is less than the $5,000 credit, then you will only receive a credit for the amount…

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Homeownership Tax Advantages

Buying a home is one of the smartest purchases you can ever make. One reason is that homeownership has many positive tax implications. The three most important sources of tax savings for home owners are the: deductions for mortgage interest deductions for real estate taxes capital gain exclusion for the sale of a principal residence…

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Plenty of Reasons to Buy a New Home Even After the Tax Credit

May 24, 2010 – Even though the home buyer tax credit expired on April 30 and won’t be renewed, there may never be a better time to buy a home than today, according to the National Association of Home Builders (NAHB). Many outstanding opportunities still exist for home buyers, but they may not be around…

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Jumbo Loans are Easier to Get

By Robert Freedman, Senior Editor, REALTOR® Magazine The jumbo market appears to be thawing, at least according to a couple of recent articles in the trade and general press. But I’d be curious to know what you’re seeing in your markets. One of the things I learned when I interviewed Vijay Lala of Bank of…

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