Buying selling a home Orlando » first time home buyer

First time home home buyers may not be able to buy bank owned foreclosures

admin — Sun, 16 Aug 2009 22:38:39 +0000

Bank owned foreclosures are attractive to both the investor and the first time home buyer. However the first time home buyer may not be able to obtain financing for all of the bank owned foreclosures on the market.

Condition is the key. If a home does not meet certain property standards, first time home buyers may not be able to get a mortgage on the homes. Lenders are generally selling their inventory as is and may not be able or willing to make needed repairs called for by an appraiser or lender in order for the home to qualify.

It is important as a new home buyer to check with your real estate agent and lender regarding the condition of the home you are considering buying. Knowing what to look for and avoid when it comes to distressed and damaged property will save you time and frustration.

Florida opens the door for home buyers to receive tax credit in advance

admin — Sun, 10 May 2009 20:04:37 +0000

Florida has opened the door for first time home buyers to receive the federal tax credit of up to $8,000 as down payment in advance of the real estate closing. The Florida legislature has set aside over 30 million to be used by the county housing administrators in hopes of increasing the number of buyers who will buy a home prior to the December 1, 2009 deadline.

First time home buyers in California may get help making mortgage payment if they lose their job.

admin — Sun, 03 May 2009 00:10:04 +0000

First time home buyers in California may get help making mortgage payment if they lose their job. The California Association of Realtors® is offering a mortgage payment plan to qualified buyers that will pay their monthly mortgage up to $1,500 for 6 months if they lose their job after buying a home.

Visit the CAR website for more details.

First time home buyer tax credit information video

admin — Fri, 13 Mar 2009 18:25:50 +0000

The following first time home buyer tax credit information video was produced by the National Association of Home Builders.

Do I qualify as a first time home buyer?

admin — Tue, 24 Feb 2009 00:56:37 +0000

Q: I understand their is a tax credit available to first time home buyers. What is considered a first time home buyer?

For purposes of the $8,000 tax credit a first time home buyer may not have owned a principal residence in 3 years previous to purchase.

New tax credit set to roll out

admin — Mon, 16 Feb 2009 20:24:47 +0000

Reports are that the first time home buyer tax credit will be raised to $8,000 per qualified household with no repayment requirements.

More information to follow.