Questions Answered for First Time Home Buyers in Lansing Michigan Real Estate Area

Here's twenty nine questions and answers provided by the National Association of Realtors for the first time home buyer in the greater Lansing real estate market, who wants to learn more about taking advantage of the new interest free loan being offered.

I had a chance recently to throw out the question to some of my LinkedIn connections on how they as, mortgage brokers and Realtors have been taking advantage of this new incentive for their clients and customers. Here's what they had to say:

"In a market where currently we have a situation of low interest rates and high amounts of inventory, the “credit” gives many potential buyers yet another reason to get into the market." Hank Baily, Athans, Georgia Area "The tax credit could help as professionals we have to be sure the buyer knows":
-Only for first time buyers (3 year window) from 4/9/8 to 7/1/9.
-There is no way, as of yet, to use the money as down payment.
-Is a credit (paid after the fact) and is a loan paid back $500 per year.
"The best way to show to a home buyer is the one time bigger refund ($7500 bigger refund or lower taxes due) and let them decide if that will help their budget". Bill Powell, Mortgage Broker

"People who are qualified need to take a serious look at taking advantage of it even if all they do is put the money into a passbook saving account where they can have access to it to make the repayment easy". Judith Abbott Coldwell Banker Agent, Dallas TX

"It seems to me it’s just a matter of educating your 1st-time home buyer to use the money responsibly by investing it in improvements to the home. The improvements should be of a nature to increase its value when they decide to sell it." Phil Nassaux, Austin Texas

Well there's some great advice above from dedicated professionals who are out there working with buyers and sellers on a daily basis to help fulfill the all American dream of home ownership. If you are interested in learning more about how you or someone you know can take advantage of this incentive, feel free to contact me today. Let me also take this time to thank these individuals for their contribution.

"Expect the Best" Mike

Mike Bowler Sr.
Coldwell Banker Hubbell Briarwood
Lansing MI 48917
517.492.3400 www.MikeBowler.com