On February 17, 2009, in Denver, President Obama signed the American Recovery and Reinvestment Act (ARRA). This bill had substantial changes to the federal First-Time Home Buyer Tax Credit, including eliminating the 15-year repayment obligation of the Borrower which was part of the 2008 Housing and Economic Recovery Act (HERA).
However, and most pertinent, Section 1006 (e) [...]
Tags: Assistance, CHFA, down payment, tax credit
We generally write about specific programs, changes and situations, but I want to recap some of the thingsI feel are important to consider in today’s market. Let’s look at the reasons to buy now.
Long term mortgage rates are at 20-30 year lows
According to Freddie Mac, in a press release yesterday, the average rate on a 30-year fixed mortgage was [...]
Tags: Assistance, Fannie Mae, FHA, HomePath
Fannie Mae released the news on January 28, 2010 that they are offering a 3.5% incentive for buyers who purchase and close on a Fannie Mae owned home between January 28 and April 30, 2010. Buyers purchasing properties listed on the HomePath website that are closed within this period may receive up to 3.5% of the [...]
Tags: Appliances, Assistance, Closing Costs, Fannie Mae, Financial Assistance, HomePath, Incentive
