Posts tagged as:

Real Estate Update

FHA Makes Extensive Policy Changes to Address Default Risk

by Linda Johnson on January 21, 2010

j0442202[1]

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.

[click to continue…]

{ 1 comment }

Will the First-Time Homebuyer Tax Credit be Extended?

October 28, 2009

With November 30th speeding toward us, many home buyers are wondering and asking, “Is the tax credit going to be extended?”  The tax credit has no doubt given a boost to the housing market this year, but will it continue?   Will it be changed to include more home buyers?  There are many questions being [...]

Read the full article →

First-time Homebuyers Avoid Repayment of Tax Credit

February 12, 2009

 Stimulus Advances With Tax Credit Changes This is excellent news for recent people buying a home in Eden Prairie, Chanhassen, Minnetonka and Plymouth as well as those looking to buy a home in Edina, Minneapolis, Maple Grove and other areas.  In reality, it is a positive step for first-time home buyers nationwide.  Tax credit changes! [...]

Read the full article →

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.  [...]

Read the full article →