Tag Archives: tax credit
03 AugTax Credit Available to First Time Home Buyers Again
Colorado Housing and Finance Authority’s (CHFA) Mortgage Credit Certificate (MCC) Program is back! (wow that was a mouthful). Unlike the one time $8,000 tax credit provided by the Federal Government to stimulate home buying in 2009 and 2010, this tax credit keeps on giving. The MCC program is available to: first time home buyers non-first [...]
Read More ...12 FebIs it Double Dipping?
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 [...]
Read More ...15 JanDrop Your Rate from 5.5% to 4% – NO JOKE!
Would you like to drop your mortgage rate from 5.5% to 4%? Crazy question, right? In Colorado, qualified homebuyers can apply for the Colorado Housing and Finance Authority (CHFA) Mortgage Credit Certificate (MCC) to do just that. That was a mouthful! Everyone knows that their monthly payments for the first several years of their home [...]
Read More ...08 JanDon’t have a lot of money for down payment?
(All stories shared on Lending A Hand contain fictitious names with changes to insignificant details. The privacy and trust of our customers is our top priority.) I received a call from a customer who was interested in a condo and wanted a maximum monthly payment of $1,000. We’ll call him Gaston (obviously a fictitious name). [...]
Read More ...11 Dec2010 Home Buyer Tax Credit for “move up buyers”
As you may have heard, when the tax credit was extended for first time home buyers it was expanded to include qualified move-up or repeat home buyers purchasing any kind of home. How do you know if you qualify? The law defines a tax credit qualified move-up home buyer (“long-time resident”) as a person who [...]
Read More ...03 JunTax Credit for Down Payment
On May 12, 2009 Cindy posted about the possibility of using the tax credit for down payment on FHA mortgages. At that time we had shared that “We have to find out if there are any government agencies or non-profits in your area are willing to provide this financing AND if they have funds to [...]
Read More ...13 MayTax Credit for Down Payment…..the Rest of the Story!
Just like the Lone Ranger might say to his horse, Silver…..WHOA! Here is what is being left out of the press releases that you need to be aware of…….HUD/FHA can approve the ability to allow the borrowers to use the government tax credit toward the down payment, but who is fronting the money? Where Will [...]
Read More ...11 MayGet Your $8,000 Tax Credit Now!
One of my customers contacted me to discuss methods to be able to use his $8,000 Federal Tax Credit for purchasing his first home in 2009. I would like to share the details of our conversation with you so that it may assist you in the case you are a first time buyer looking to [...]
Read More ...07 JanAre You Eligible for the $7,500 Housing Tax Credit?
Did you know that you may be eligible for a $7,500 tax credit if you purchased your first home (even if you were not a first time home buyer, you may still be eligible – so read on) in 2008 and into 2009? Well, it isn’t exactly a tax credit, but it is a still [...]
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