Justin Messer USDA Rural Housing Loan

Northstar Mortgage Group provides home loans to borrowers that are looking to purchase residential property in the southeastern United States. Justin Messer is a Xinnix certified Loan Officer with Northstar Mortgage Group. He has also been designated the ActiveRain Georgia Confirmed Loan Officer.

At Northstar Mortgage Group, we provide all sorts of residential mortgages. Peachtree City, Georgia real estate financing includes

Peachtree City, Georgia real estate agents are a fantastic way to find the right home at the right price. Homes for sale in Peachtree City, GA have begun to see a turnaround. The turnaround has not necessarily taken off, but listings have started to move. If you are thinking about listing your home or if you are simply new to the area and are in need of a great agent, then take a moment to review a few of the local offices. We have many fantastic real estate offices located in Peachtree City, Georgia. These realtor offices are located all throughout the area. A few brokerages that I highly recommend are

Obviously, there are many wonderful agents in Peachtree City, Georgia that can help you find the perfect home. If you are looking to purchase, then there is no reason you should not have a real estate agent. They can help you find the right property at the right price. If you are a first time home buyer, then I highly recommend having an agent. Agents will help you make sure you are protected with the proper contract contingencies such as a financing contingency and the appraisal contingency. These contingencies allow you to receive a refund for your earnest money deposit if you are denied approval for a loan from your mortgage company or if the appraisal on the property comes in lower than the anticipated sales price. Peachtree City, Georgia real estate agents will also help you negotiate a sales price so that you are getting the deal that best meets your needs. In today's market, the majority of seller's are more than willing to pay a portion of, if not all, closing costs. So, if you are able to have your Peachtree City, Georgia real estate agent negotiate all the cloisng cost, then you will be in a fantastic position.

To see how you can purchase a home with no down payment, no money out of pocket, and obtaining the first time home buyer tax credit, then visit my wealth creation blog to see how.

Before you speak with a real estate agent in Peachtree City, Georgia, its wise to be proactive and speak with a licensed mortgage professional from the local area.

Obama's extended first time home buyer tax credit was passed just moments ago!!! There have been a few enhancements to the first time home buyer incentive program. The Home buyers Tax Credit jumped its last hurdle yesterday, as the both the House and the Senate have passed the bill and it now has received the official signature President Obama! The House voted 403-12 after the Senate unanimously approved the measure Wednesday night. The president also signed the bill that will extend unemployment benefits.

And while we have been expecting this to happen for some time and have given you many details, let’s go over them one more time. For First Time Home-buyers or those who have not owned a home within 3 years, the tax credit remains at $8000, with income restrictions maxing out at $125,000 for singles and $225,000 for couples. Current homeowners – those defined as having owned a home for five of the previous eight years – can now also take advantage of a credit, with the slightly lesser amount of $6500, with the income restrictions the same as described above. To qualify for the new program, purchase agreements need to be signed by April 30^th and close by June 30^th. For those in our armed forces, persons stationed outside the United States on official duty for 90 days during the period from January 1^st 2009 and before May 1^st 2010 will have eligibility extended for binding contracts signed before May 1^st, 2011 and closed before July 1^st, 2011.

This legislation is significant, and will give the housing industry the additional support we need to keep the real estate recovery going.

There are still many great loan programs out there for first time home buyers. USDA rural housing loans and FHA loans are an excellent and extremely affordable way to take advantage of the home buyer tax credit regardless if you are a first time home buyer or if you are looking to purchase a primary residence.

If you or a friend missed out on the first tax credit, then you have been given one last chance to take advantage of a fantastic opportunity to put a little extra cash in your pocket, purchase a home at an incredible discount, and obtain a mortgage with interest rates at some of the lowest levels in history. If you would like to see if you qualify for Obama's extended first time home buyer tax credit, then APPLY NOW or give me a call.

Jusitn Messer | Northstar Mortgage Group

USDA Rural Housing History shows this government insured home loan program has had great success over the last 60 years and is gaining in popularity.

In 1949, USDA's telecommunications loan program was established to provide telephone service to rural America. At the time, only one in three farms had access to telephone service. As it did with the rural electrification program, the Telephone Loan Program revolutionized the lives of millions of rural families and businesses by providing connectivity, access to emergency services and business activities that fueled economic growth. Today, Rural Utilities Service (formerly REA), provides loans and grants for telecommunication, electricity and water and environmental services. It is also administering a program, funded through the American Recovery and Reinvestment Act, to provide broadband service to under-served communities.

Also in 1949, passage of the Housing Act marked a turning point the nation's history by establishing the Farmer's Home Administration. To date, three million rural Americans have benefited by receiving housing loans, grants and guarantees totaling $124.6 billion.

USDA Rural Development's mission is to increase economic opportunity and improve the quality of life for rural residents. Rural Development fosters growth in home ownership, finances business development and supports the creation of critical community and technology infrastructure. Further information on rural programs is available at a local USDA Rural Development office or by visiting www.USDALoanExpert.com!

This week in the Economy: October 26th - 30th

Massive Treasury auctions and a big day of economic reports on Friday could combine for market-moving news throughout the week. Currently, we are in a floating status for rate locks while mortgage bonds are trading sideways with potential to move higher. If we can break through resistance, then mortgage rates should improve from their current levels.

Reports to Watch

The information below is a highlight of the reports due out this week. For more detailed information and insight, view the Economic Calendar, the Daily Market Update, and our exclusive Market News. And don’t forget, you can easily download the Economic Calendar to your Outlook Calendar to make sure you don’t miss important economic releases. Just click here to read instructions for downloading to Outlook.

• Consumer Confidence for October kicks off the week on Tuesday. Last month, confidence was reported at 53.1. This month’s report is expected to climb up slightly to 54.0.


• Coming after last week’s better-than-expected Existing Home Sales, New Home Sales for September will be reported on Wednesday. New Home Sales for August were reported at 429,000, slightly lower than expectations of 441,000. The inventory of unsold homes dropped to a 7.3-month supply--down from the previous reading of 7.5% and the lowest since January 2007. The report due out this week is expected to show an increase in New Home Sales to 440,000 for September.


• Durable Goods Orders will also be reported on Wednesday. Durable Goods Orders are considered a leading indicator of manufacturing activity, and the market often moves on this report despite the fact that its headline number is a less-than-perfect indicator of activity. Last month, Durable Goods Orders for August unexpectedly fell 2.4% for the largest decline since January. The report for September is expected to be reported at 0.7%.


• On Thursday, the Gross Domestic Product (GDP) and GDP Chain Deflator for the third quarter will be reported. The Chain Deflator is a key inflation measure included in the GDP Report. And since inflation is the archenemy of Bonds and home loan rates, this report could be a market mover. Unlike the Consumer Price Index--which is a more closely watched inflation indicator--the Chain Deflator has the advantage of not being a fixed basket of goods and services, so changes in consumption patterns or the introduction of new goods and services will be reflected in the Chain Deflator. GDP is expected to be reported at 3.1% compared to last quarter’s -0.7%, while the Chain Deflator is expected to come in at 1.3% from 0.0% last quarter.


• The all-important Core Personal Consumption Expenditure (PCE) and Year-Over-Year PCE will also be released this Friday. This is the Fed's favorite gauge of inflation so the markets will be playing close attention to this report.


• Friday also brings another look at Personal Income and Personal Spending. Personal Spending is expected to be reported at -0.4%, which would be down from last month’s reading of 1.3%. Personal Income is also expected to be down to 0.0% from last month’s reading of 0.2%.


• The Chicago PMI will be released on Friday as well. This is a big report for the markets because many industry experts use it to help predict the upcoming ISM report. Last month’s reading was reported at 46.1, and this month’s is expected to come in at 48.5 when it’s released.


• The Employment Cost Index (ECI) caps off the week of heavy hitters. This index is a comprehensive measure of labor costs and represents the price of labor as compensation per employee-hour worked, during the previous quarter. As such, the ECI is one way to evaluate wage trends and the risk of wage inflation, as well as possible price pressures. If wage inflation threatens, it is possible interest rates will rise through Bond prices dropping or Fed intervention.

The X Factor

This week, the Treasury Department auctions off a massive $123 Billion worth of Securities. That’s even more than anyone expected last week when the Treasury announced the amounts of this week auctions. Here’s how the auctions break down this week:

• $7 Billion in TIPS on Monday
• $44 Billion in 2-yr Notes on Tuesday
• $41 Billion in 5-yr Notes on Wednesday
• $31 Billion in 7-yr Notes on Thursday

This massive amount is enough to shake up the market all by itself if it isn’t received well. Then, when you combine that with the fact that the Fed’s purchase program of MBS is slowing and coming to an end, you can see how the X Factor has the potential to move the market this week as much as the heavy-hitting reports on tap.

The Bottom Line

Mortgage Bonds were able to stabilize last week but still closed below a key floor of support at the 200-Day Moving Average. The battle begins again this week.

Courtesy of Mortgage Market Guide