Terry L. Sanchez

If you have not owned or had a mortgage on a Primary Residence in the last three years and you obtain a mortgage for the purchase of a home this year, you are eligible to receive an $8,000 tax credit from the government. I've mentioned this before.

BUT.....did you know that you do not have to wait to receive your money until you file your 2009 taxes? If you purchased a home today, you can amend your 2008 tax return now and you would have your stimulus money in about 60 days!!

KEEP IT IN MIND FOLKS!!!

Pinellas Financial is a Full Service Mortgage Company located in Clearwater, Florida.

• If you have not had a mortgage or owned a Primary Residence in the last three years you are eligible to to receive up to $8,000 as a tax credit on the purchase of a Primary residence this year. Your purchase needs to happen between 1/1/09 and 12/31/09. You CAN own or have investment or vacation property mortgaged in the last three years. The tax credit equals 10% of the property's value for homes under $80,000.00.
• Income limits apply. A married couples modified adjusted gross income (MAGI) should be under $150,000 and singles under $75,000.
• Remember it is a tax credit versus a tax deduction. The $8,000 comes back to you even if you do not owe that much in taxes. It is not deducted from your taxable income!
• The $8,000 tax credit does not have to be paid back as long as you keep and live in the home for at least 36 months!
• Construction loans; if you began construction on a home that will be complete and you will take occupancy before Dec. 31st, 2009, you qualify for the tax credit even if you began construction in 08'.

So that's it in a Nutshell! I can get you an automated underwriting approval in about 10 minutes! What a time to buy a home. This tax credit is literally FREE money!

HAPPY EASTER!!! from PINELLAS FINANCIAL, LLC

This is the time of year to celebrate our Lord and Savior Jesus Christ! For those of you who do not have a relationship with this man, you need to talk to someone about who he is and what he did for all of mankind.

On a Business note, remember that even though our media potray's our economy as gloom and doom; NETWORKING is the key to staying prosperous in these tough times. Advertising is great, but getting out into the community is key. There are so many ways to become involved. Join a local area Chamber of Commerce, Rotary or Kiwanis club. There are several different networking groups and you might find them in your local paper. These can include groups you pay to belong to but look also for free groups. A little investigation should yield more opportunities than you have time for.

The key is to find a handful of different groups and events and be loyal to them with your attendance and your referral's. Don't try and spread yourself across too many different groups. Loyalty and genuine concern for your fellow group members will pay off HUGE!!!,

HAPPY EASTER AGAIN!!!

With so much affordable housing on the market, our veterans need to be aware of VA loan benefits! VA loans require NO DOWN payment! VA loans will allow the seller to pay up to 6% of closing costs! VA loans DO NOT require MI (mortgage insurance) VA loans offer conforming interest rates! 5% on a 30-year, fixed rate right now! VA loans work with less-than-perfect Credit!

Our veterans deserve our respect, admiration and loyalty. Our government has paved the way for these men and women of honor to receive a home loan under the best possible conditions.

Call Pinellas Financial today if you are a veteran, know a veteran or have a client that is a veteran; to find out more about VA loans and what steps need to be taken to take advantage of this great opportunity!

Did you hear the interest rate news this week? Mortgage interest rates have fallen to 5.5% for a 30 year, fixed rate!! We have not been this low for quite some time. If you've been thinking about taking advantage of the low Real Estate prices, now you have another reason to get out there and look! Call Pinellas Financial and we can talk with you about different payments and how to get pre-qualified. Deciding to take advantage of low mortgage interest rates and low Real Estate prices is a smart move for you, your family and your financial future.