Henry Daniels -- Government Loan Specialist with VA, FHA & USDA Mortgages

Howdy,

The Texas Veterans Land board offers Texas Veterans the opportunity for some of the lowest rates available today. Contrary to the name these loans can be used to purchase regular everyday single family homes in metro areas. In addition, fees are strictly controlled and limited to protect the Veteran. To see if you or your clients qualify for this program contact our office and we'll get you pre-approved for the program.

Texas Veterans Land Board rates for Housing Assistance and Home Improvement Programs Base Rate for Housing/Home Improvement Loans: 4.99%. The maximum Loan amount is $325,000.

Special Interest Rate Discount - For Texas Veterans Land Board Housing and Home Improvement Loans Only (The following discount to the rate may apply if qualifying criteria are met.) Qualified Texas Veterans with Disabilities Program Discount: -0.50% (The Veterans with Disabilities Discount applies to veterans with a compensable disability rated at thirty percent or greater by the United States Department of Veterans Affairs.)

NOTES:

• For loan payment estimates, please call our office.
• The VLB Base Rate is subject to adjustment on the each week.
• If more than one rate lock is obtained in a twelve-month period, the highest locked rate will prevail.
• Housing loans are available with 15, 20, 25 or 30-year terms.
• Home Improvement loans are available with two to 20-year terms.

For a complete list of programs terms and rates contact our office directly at (832) 519-0695 or email me at here.

Howdy,

The Texas Veterans Land board offers Texas Veterans the opportunity for some of the lowest rates available today. Contrary to the name these loans can be used to purchase regular everyday single family homes in metro areas. In addition, fees are strictly controlled and limited to protect the Veteran. To see if you or your clients qualify for this program contact our office and we'll get you pre-approved for the program.

Texas Veterans Land Board rates for Housing Assistance and Home Improvement Programs Base Rate for Housing/Home Improvement Loans: 5.04%. The maximum Loan amount is $325,000.

Special Interest Rate Discount - For Texas Veterans Land Board Housing and Home Improvement Loans Only (The following discount to the rate may apply if qualifying criteria are met.) Qualified Texas Veterans with Disabilities Program Discount: -0.50% (The Veterans with Disabilities Discount applies to veterans with a compensable disability rated at thirty percent or greater by the United States Department of Veterans Affairs.)

NOTES:

• For loan payment estimates, please call our office.
• The VLB Base Rate is subject to adjustment on the each week.
• If more than one rate lock is obtained in a twelve-month period, the highest locked rate will prevail.
• Housing loans are available with 15, 20, 25 or 30-year terms.
• Home Improvement loans are available with two to 20-year terms.

For a complete list of programs terms and rates contact our office directly at (832) 519-0695 or email me at here.

Exciting News! After much debate the tax credit has been extended but there are some catches.

• Catch 1: Although the Tax credit has been extended through June 30th 2010 you MUST have a signed contract by April 30th 2010. And these transactions will be highly scrutinized by the IRS due to all of the fraud going on with the current tax credit programs of last year and this year.
  
• Catch 2: You still must live in the home for at least 3 years or you must pay back the tax credit.
• Catch 3: Documentation requirements are higher. So when you apply to the IRS for the tax credit make sure you keep ALL of your closing docs at hand!
• Catch 4: It is important to note that you cannot purchase a home from, among other family members, your ancestors (parents, grandparents, etc.), your lineal descendants (children, grandchildren, etc.) or your spouse or your spouse’s family members.
• Catch 5: Repeat/Existing Buyers $6,500 Tax credit:: Income Limits are the same ans the first time home buyer credit but to qualify as move-up home buyer (“long-time resident”) as a home owner who has owned and resided in a home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, the law tests the home ownership history of both the home buyer and the spouse. Repeat home buyers do not have to purchase a home that is more expensive than their previous home to qualify for the tax credit.
• Income limits raised to $225k/year for couples filing jointly and $125k.year for single or couples filing separately.
• Finally, nothing has changed regarding credit. I've had prospective homebuyers contact me needing to work on their credit and this has not changed.

As with ALL tax matters Please consult with your tax adviser for more information. Also see IRS Form 5405.

This is exciting for many home buyers out there but just be aware to know the catches to avoid an IRS audit. For more questuins on finance feel free to Contact out office at (832) 519-0695. HoustonMortgageBank.com

House passes resolution 416 to 0 to extend First Time Home buyer Credit by another 6 months to veterans that were on active duty for 90 days or more in 2009. This is a telegraph that it will NOT be extended for another 6 months for everyone else. It's not a done deal yet so stay tuned. It's good to see that our service members are appreciated.

Many people will say that this is only good for VA Loans. NOT True. As with the current Tax credit you may use this on any loan type. That means that USDA, FHA, Conventional, Texas Veteran's land board and VA Loans can get the tax credit!

For everyone else that means the tax credit will end on December 1, 2009. If you don't have your home under contract now the odds are against you that you will be able to get that tax credit unless you get started this friday 10/16. To get the tax credit contact our office here and we'll get you pre-qualified.

Howdy,

The Texas Veterans Land board offers Texas Veterans the opportunity for some of the lowest rates available today. Contrary to the name these loans can be used to purchase regular everyday single family homes in metro areas. In addition, fees are strictly controlled and limited to protect the Veteran. To see if you or your clients qualify for this program contact our office and we'll get you pre-approved for the program.

Texas Veterans Land Board rates for Housing Assistance and Home Improvement Programs Base Rate for Housing/Home Improvement Loans: 5.06%. The maximum Loan amount is $325,000.

Special Interest Rate Discount - For Texas Veterans Land Board Housing and Home Improvement Loans Only (The following discount to the rate may apply if qualifying criteria are met.) Qualified Texas Veterans with Disabilities Program Discount: -0.50% (The Veterans with Disabilities Discount applies to veterans with a compensable disability rated at thirty percent or greater by the United States Department of Veterans Affairs.)

NOTES:

• For loan payment estimates, please call our office.
• The VLB Base Rate is subject to adjustment on the each week.
• If more than one rate lock is obtained in a twelve-month period, the highest locked rate will prevail.
• Housing loans are available with 15, 20, 25 or 30-year terms.
• Home Improvement loans are available with two to 20-year terms.

For a complete list of programs terms and rates contact our office directly at (832) 519-0695 or email me at here.