Posts tagged as:

first-time home buyer

FHA Makes Extensive Policy Changes to Address Default Risk

by Linda Johnson on January 21, 2010

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The Federal Housing Administration (FHA) has determined that it will be raising home buyer’s up front costs for mortgage insurance,  increasing the down payment requirements for borrowers with lower credit scores, and decreasing the acceptable amount of seller concessions.  These new guidelines will begin taking effect in the spring and summer.

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Buy a Home and Get a Tax Break!

December 29, 2008

The Housing and Economic Recovery Act of 2008 authorizes a tax credit up to $7,500 for qualified first-time home buyers purchasing a home on or after April 9, 2008 and before July 1, 2009.  Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.  [...]

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