It is possible!! Steve Kappre at Treasury Mortgage had the first "Tax Prefund Mortgage Program"settle last Monday. It was a seemless transaction where the buyers utilized $5,000 of the (up to) $8,000 tax credit the government is currently offered to first time home buyers who close before December 1st of 2009.
When you apply for your mortgage as a first time home buyer let your lender know that you would like to utilize a portion of the tax credit NOW to purchase your first home. If the lender says it isn't possible than RUN THE OTHER WAY!! What they may really be saying is either they don't offer the program, or there is a good chance they don't even know the option exists. Certainly not all mortgage lenders are made the same, nor have access to the same programs.
When your loan is approved it is approved with the designation of the"Prefund" program. You can use this $5,000 towards either your down payment or your closing costs (or both). The first time home buyer prefund program can be used under the umbrella of Conventional, FHA, VA, or USDA (100%) guidelines.
There are times when one option will allow an approval where another option will not. Your loan officer/mortgage lender should be able to advise you of what direction to take and why that direction is in your best interest. The interest rates for such programs are right in line with other conventional, FHA, VA, or USDA rates.
There really isn't a better time to consider buying a home. Take the time to educate yourself and put all the cards on the table. Below is a few other articles that may help you better understand first time home buyer options.
|
|
||||||||
|
||||||||
|
|
Buying your first home is one of the most memorable moments you will ever have. It is an exciting, scary, thrilling, and rewarding experience rapped into one big ball. It is a new experience, and a huge decision. With some education and effort, you can help to make the process a sound, rewarding experience that is successful!
Some of the topics you will want to educate yourself on are;
In the coming series we will discuss these topics and more in a (somewhat) concise format that will give you a broad foundation to move forward in confidence as a first time home buyer.
|
|
||||||||
|
||||||||
|
|
If you are looking for a dry cleaner in the Mantua (Gloucester County) area then be sure to check out Sparkle Cleaners on Route 45 in the KMart plaza. Some businesses tell you how things are, and some, like Sparkle, ask and care about the service they provide. From experience with Sparkle Cleaners, it is always about the customer.
Sparkle provides many services including dry cleaning and related services, as well as a horse tack shop and related services. Some of the items that Sparkle offers are listed below.
FREE PICK-UP and DELIVERY SERVICE
SAME DAY SERVICE
Full Time Samstress
Dry Cleaning
Tuxedo Rentals and Sales
Alterations
Horse Blanket Cleaning and Repair
Horse Tack Shop
Leather and Suede Cleaning
Silk Screening
Monograms
Computerized Embroidery
HOURS: Mon - Fri 8 to 7 | Sat 9 to 5 | Sun 12 to 4
South Jersey Appraisals is an appraisal service that has served the South Jersey area for many years. If you have been in the real estate business for any length of time, you will find out that there are some bad apples, many average apples, and a handful of great professionals that you can come back to time-and-time again.
South Jersey Appraisals is an appraisal company I have used for years and are my primary choice for appraisals. The type of appraisals that they cover are all aspects of residential appraisals such as:
The most common reason an appraisal is requested is for the purchase or refinance of a home. They can also be used for situations such as divorces, to remove mortgage insurance on a mortgage, or to estimate and prepare to sell a home by finding its current market value.
SJ Appraisals covers Gloucester, Salem, Camden, and Burlington County New Jersey.
Phone: 856-371-1768
|
|
||||||||
|
||||||||
|
|
Giving 100% all of the time shouldn't be an option. And for Romano Custom Builders, it isn't an option - it is the only way they do business! Rocco Romano is the owner and has 30 years of experience. Rocco takes such pride in his work, that he is present on every job.
Below is just a short list of some of the jobs Romano Builders can complete for you:
Bathrooms
Kitchens
 |
|
|
Cell - 856.419.3561 | Offering all loan options - Specializing in NJ First-Time Home Buyer Mortgage Loans and down payment assistance programs for New Jersey, 100% Financing, Reverse mortgages.
One of Steve's primary focuses is to work with First-Time Buyers. Steve knows the fears and concerns that come with someone just starting out in life, and his business has focused on first time buyer mortgages and grants for years. It is important that first time home buyers understand all of their options such as the specific mortgages currently available, home buyer grants, seller concessions, the credit scoring model, tax credits and more. It is also important to understand how these options can all be used together to create a successful home purchase.
Some of the first time home buyer options are;
Steve has extensive knowledge regarding credit restoration, and has trained for the specific occupation of a credit restoration specialist. The credit advice that is offered, although very valuable, is free to mortgage clients. Check out some of the articles Steve has written on understanding the credit scoring model and how to improve your credit scores.
Graduate: Certified Mortgage Planning Specialist Institute(CMPS). To learn more about CMPS, check them out at http://www.cmpsinstitute.org/
Specialty programs
"I am very grateful to you for taking the time to help me (fix my credit) even though I am doing the work. The fact that you have laid out the steps for me to follow is the best thing that anyone has ever done for me. It is easier to understand now what I need to do to get to where I need to be. Before reading this and talking to you, all I honestly knew was that as long as I paid my bills on time and got them under the limits my score would go up. Having the whole equation makes it so much easier. Thanks again!" - H.S.
"Thank you again for all of your help, you will be highly recommended to all my
colleagues"
- D. B.
Good service is hard to find, and I believe that your firm has really done an outstanding
job. Your response time is outstanding, your staff is educated and courteous and that
alone is a big deal"
- I. L.
"Steve, thank you again for all of your help. You were great ... and I appreciate
everything."
- S. J.
"Steve, you have been great and have always been willing to answer my calls and
questions. I think that your customer service has been top notch and have no
complaints."
- T. F.
"Thanks. You're the best"
- M. S.
"Thanks for the info ... I knew I could count on you!"
- P. T.
"Does your company send out a survey on the quality of your service we have received
because I would really like to fill a nice one out for a change!:)"
- D. D.
"I have given your name out to a couple of friends ... hope you don't mind"
- K. O.
This information is provided to assist Real Estate Professionals and is not intended as an advertisement to extend Consumer Credit as defined by Section 226.2 of Regulation Z. Quoted Interest Rates, Fees, and Programs are all subject to change without notice and are subject to errors, omissions, changes, and/or withdraw at any time.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
