Pending home sales continue to grow.
The week began with September Pending Home Sales coming in UP for the eighth month in a row.
The National Association of Realtors index was UP 6.1% for the month, and UP 21.2% over September a year ago! The index hit 110.1, with 100 equaling the average level of sales contracts in 2001, the first year measured by the index.
It won't be too long before we start to see house prices going back up for most of the country, some markets are starting to see home price on the upswing.
Now is the time to buy before rates go up and house price move up too.
Leo Namiot
Connecticut Mortgage Specialist
Great news for the housing market came Friday when the President signed a bill extending and broadening tax credits for homebuyers.
The tax credits apply to contracts signed by April 30, 2010, that close by June 30. Income limits for eligibility have been increased to $125,000 per year for individuals and up to $225,000 per year for couples. Credits up to $8,000 continue for first-time buyers but there is now a $6,500 tax credit for buyers who've owned their current home at least five of the last eight years. However, homes selling for more than $800,000 are not eligible.
Mortgage Rates are still near all time lows.... now is a great time to buy!
www.LeoLends.com - Free Mortgage Pre-Approvals
Leo Nmaiot
Connecticut Mortgages Specialist
First Time Home Buyers Mortgages
First-time Homebuyer Tax Credit Extended
The U.S. Congress has approved a bill that extends and broadens tax credits that were set to expire this month. The bill extends the credit for contracts signed by April 30th and closing by June 30th. Income limits are expanded to cover more affluent buyers; couples earning up to $225,000 and individuals earning up to $125,000 annually now qualify.
*The new proposed bill will also creates a new $6,500 credit for qualified buyers who have owned their current home for at least five years. Homes worth more than $800,000 would not be eligible.
President Obama is expected to sign the bill as early as tomorrow.
Federal Housing Administration - FHA Mortgage Loans
Military Veteran's and Those Serving Our Country - VA Mortgage Loans
Connecticut FHA Mortgage Loan Specialists - Connecticut VA Mortgage Loans Specialists
Below is some helpful information on FHA Mortgage Loans and VA Mortgage Loans.
To get started immediately click here for our FHA and VA Loans on-line application.
Federal Housing Administration Loans
Veteran Affairs Loans
FEDERAL HOUSING ADMINISTRATION LOANS
This loan is insured by the Federal Housing Administration. It is open to all qualified home purchasers.
FHA Mortgage Loan Products
FHA Loans - Buying a Home using a FHA Loan
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The FHA loan program was created to help increase homeownership. The FHA program makes buying a home easier and less expensive than other types of real estate mortgage home loan programs. Some highlights of the FHA loan program are:
- Downpayment 3.5% of Sales Price
- 100% Financing options available with approved down payment assitant programs
- Gift for downpayment and closing costs allowed.
- No reserves or required.
- FHA regulated closing costs.
- Seller can credit up to 6% of sales price towards buyers costs.
- FHA will allow a home purchase two years after a Bankruptcy.
- FHA will allow a home purchase three years after a Foreclosure.
- Higher Debt Ratio's than other home loan programs.
- Less than two years on the job is allowed in many cases.
- Self-Employed individuals o.k.
These advantages of the FHA loan program has made it one of the best options for most first time home buyers as well as move-up home buyers.
You do not have to be a first time buyer to obtain a FHA loan, anyone may use a FHA loan as long as you do not have more than one FHA insured loan at any one time.
VETERAN AFFAIRS LOANS
The VA Mortgage Loan Program can make it much easier for Veterans to secure a home loan by eliminating the need for a down payment. Also, with careful structuring of the purchase contract, the Veteran can avoid needing cash for closing costs as well.
A VA Mortgage Loan offers a variety of financial benefits for those who qualifies. Over 60 million Americans qualify for benefits from the VA, but many people fail to take advantage of those benefits.
A VA Mortgage Loan can help you purchase a more expensive house,obtain a lower interest rate and offers 100% Financing! Are you eligible for a VA Mortgage Loan? Find out more about VA Mortgage Loans and Zero Down 100% Financing Without Mortgage Insurance for your Home Purchase or Refinance. Let Benchmark Mortgage help you get the a VA Loan at very competitive interest rates. APPLY NOW For A VA Loan.
Requirements
CHFA - First Time Home Buyer Mortgages - Click here for information
Connecticut FHA and VA Home Loans - Apply Online
Connecticut VA Loans / Connecticut FHA Loans / Connecticut CHFA Loans
Updated Information
According to the Associated Press, Senators have agreed to extend the tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.
Reportedly, Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to buyers who have owned their current homes for at least five years.
The tax credits would be available to buyers who sign sales agreements by the end of April 2010. They would have until the end of June to close on their new homes.
This is a preliminary report, details and conditions may change as the legislation becomes finalized.
More details to follow as they become available.
Leo Namiot
Connecticut Mortgage Specialist
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Connecticut mortgage consultant that offers to educate my customers when looking for a home mortgage or refinancing. Call me today for a no obligation free mortgage consultation. Leo Namiot.
Connecticut Mortgage Specialist- Leo Namiot - Connecticut Residential & Commercial Mortgage Lending
REALTORS.......You're Job Is To Sell Homes......My Job Is To Close Loans.....Let's Close Deals Together!
From First Time Home Buyers To Seasoned Investors, I have the expertise and knowledge to help you determine the absolute best mortgage loan program to meet your objectives. Leo Namiot
I admit I like to close lots of loans every year...... It's what I do. .......But what tops that is the happy families behind the loans. When you need a home loan, I hope you'll put my track record of success to work for you. Whatever your mortgage needs are, you deserve a mortgage professional who will take the time to listen. And find out what's important to you. And put your interests first. Please share your mortgage questions with me, and I'll share my success with you!. Call today with any mortgage questions you might have. Visit www.BenchmarkCT.com - Leo Namiot - Mortgage Master, Inc. "Most people can discern the difference between a salesperson who is out to make a dollar and one who is out to make a difference." Todd Duncan "
www. LeoLends.com 
FREE Pre-Approvals.... Contact me for a no obligation free consultation or apply @ www.LeoLends.com
Referral Partners:
Spend more time selling homes and let me take care of the financing!
Experience the difference with the LeoLends Team.
With The LeoLends Team You will get:
You are kept informed every step of the way while we process the buyers mortgage - no calling and asking what is happening with the loan.
Your job is to sell homes - my job is to secure the financing!
My job is not just to make myself look good but to make my referral partners shine as well! I help you build customers for life with outstanding service that reflects back on you as my referral partner!
Let me show you the Difference it makes when working with a Professional Mortgage Consultant vs an mortgage application taker.
For the past 6+ years I have built a solid foundation of customers for life and referral partners who trust what I say is the truth.
"Exceeding my referral partners and customers expectations on every deal, building customers for life 1 deal at a time"
Take your business to the next level Contact Me:
Leo Namiot - Mortgage Master, INC. www.BenchmarkCT.com
D
Leo,
Thank you for everything. The condo is the 7th home Karl and I have purchased. The process has never gone as smoothly. You are, by far, the most knowledgeable, professional, and likable mortgage broker we have ever worked with. When we are in the market for home #8, you will be the first person we call!
Thanks again,
Nancy and Karl K, Torrington ,CT
Dear Leo,
You were the only one who made this happen. The road to the little condo was covered with "bumps", but I always kept in my mind the pleasure of communication with you. Thank you,thank you,thank you. I wish the best for you and your family. - Marina K - West Hartford,CT
Leo,
Thank you for all your help in getting us into our first home. Without your positive attitutude and ability to make us feel at ease when making such a large investment (to us anyway) we may have not taken this leap. We truely appreciate your help and professionalism. Joy and Norman C - Wallingford, CT
Dear Leo,
We are finally seem financially free, your time to consult us and help us understand the benefits of a debt consolidation refinance was well worth it. We did not want to add any more lenght to our current mortgage and Wells Fargo was able to give us a 12 year mortgage so we stay on track and lower our rate. We pay less per month now and paid off our high rate credit cards with your help. We will gladly pass your name along so expect more business from our friends and family. We wish you all the best, thanks again - J&M G - Plainville, CT
Dear Leo,
Thanks for all your help with my home purchase, I know it has been a long road starting out house hunting in CT and end up buying in FL. Crazy things happen. I am just glad you were able to help me buy a home here in FL. Thanks again. Brenda E- Winter Heaven, FL.
Thanks for such a smooth transaction, our mortgage process could have not gone any better. From the real estate agent to the closing attorney everything was outstanding, what a great team you have. We love the new place and will keep you in mind when we need your services in the future or if we know anyone in need of your services. Thank you again.
F & J - Bristol ,CT
Leo, Being first time home buyers we were very uneducated and nervous to say the least, you and your staff made our first home purchase process very easy for us. Taking your time and being patient with us was more than we could have ever asked for. Thank you to the whole Benchmark Mortgage team. G & M K, Waterown,CT
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Dear Leo,
Thank you for helping us with our refinance, we had no idea that we would not only save on our monthly bills but be able to pay our mortgage off faster. We are greatful for time you spent to show us a better path to financial freedom.
Many thanks,
M & K
New Haven, CT
Connecticut Mortgage Specialists:Danbury CT,Brookfield CT,New Milford CT,Orange CT,Litchfield CT,TorringtonCT,Harwington CT,Avon CT,West Hartford CT,Glastonbury CT,Storrs CT,Cromwell CT,New London CT,Fairfield CT,Norwalk CT,Southport CT,Old Lyme CT,Milford CT,New Haven CT,Hartford CT,Groton CT,Waterford CT,Waterbury CT,New Hartford CT,Farmington CT,Avon CT,Southington CT,Plainville CT,Plantsville CT,Washington Depot CT,Newington CT,Newtown CT,Southbury CT,Woodbury CT,Watertown CT,Naugatuck CT,Prospect CT,Windsor CT,Beacon Falls CT,Seymour CT,Redding CT,Easton CT,Westport CT,Uncasville CT,Oakville CT,Wolcott CT,Bristol CT,Thomaston CT,Branford CT,West Haven CT, Nortfield CT,Hamden CT,Wallingford CT,Stamford CT,Stratford CT,Winsted CT,Terryville CT,Bridgeport CT,Ansonia CT,Derby CT,Woodbridge CT,East Hartford CT,Ellington CT,North Haven CT,Plymouth CT,Middlebury CT,Oxford CT,Redding CT,Bantam CT,Goshen CT,Cornwall CT,Roxbury CT,Bridgewater CT,Bethel CT,Bethlehem CT,New Britain CT,Colebrook CT,Simsbury CT,Barkhamsted CT,Collinsville CT,Norfolk CT,Lakeville CT,Kent CT,Berlin CT,Burlington CT,Winchester Center,Woodbridge Lake CT,New Fairfiled CT,Sherman CT,New Preston CT,MOrris CT,Barkhansted CT,Canaan CT,
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