Tyrone (Tye) Caldwell Augusta/Ft Gordon Area Realtor

Any buyer can be approved for a mortgage loan with good credit worthiness. This includes work history, available cash reserves, bill payment history, salary, job stability, and debt to income ratio. Obviously the higher your creidt score (FICO) the better your chances are for a loan with a favorable interest rate. A Veterans Administration (VA) loan requires 0% down, FHA loans requires 3.5% down and Conventional loans require 5% down. I work with a few great lenders in the Greater Augusta area (CSRA) and currently most lenders require a minimum of a 620 credit score. I have three lenders that still only require a 600 credit score. I CURRRNTLY HAVE ONE LENDER THAT STILL ONLY REQUIRES A 580 CREDIT SCORE, CAN YOU BELIEVE IT!

Tye Caldwell Sr.
REALTOR® - Keller Wiliams Realty Augusta Partners

Sell or Buy with TYE

Web Reference: http://www.TyeCaldwellRealtor.com

The house voted unanimously to extend the $8000 tax credit for active mlitary personnel who are currently servng overseas or who have spent 90 days out of the country in service. They are also waiving the 3 year of residency requirement. Since military personnel are moved a lot they do not have to remain in the home for 3 years to not have to pay it back.

WASHINGTON, DC - October 12, 2009 - (RealEstateRama)- Congressman Dennis Moore (Third District -Kansas) announced today the passage of H.R. 3590, The Service Members Home Ownership Tax of 2009, which amends the federal tax code to ensure military personnel can take full advantage of the first-time homebuyer tax credit that was created as part of the American Reinvestment Act (ARRA). The measure passed the house by a unanimous vote of 416-0. Moore is a co-sponsers of the legislation.

"As a veteran, I know how important it is to support our military and their families, "Moore said. H.R. 3590 is a common-sense bill to help the members of our armed forces and Foreign Service take advantage of this sucessful tax credit that is already helping to stimulate our economy. " Current law requires first-time homebuyers who utilize the $8000 tax credit created by ARRA to repay the credit if they move from their principal residence within three years of closing. Because many military and foreign service personnel are required by federal orders to redeploy overseas within a three year period, it was important for Congress to write an exclusion for them into federal law. The defecit-neutral Service Members Home Ownership Tax Act Act ensures that service members will not be forced to repay the tax credit if they are called for overseas duty and forced to sell their home within three years of purchasing it. The measure would also extend the deadline for utilizing the first-time homebuyers tax credit for service members who served outside the U.S. for at least 90 days in 2009. This bill will help returning veterans take advantage of the tax credit, which is currently scheduled to expire on November 30, 2009.

Tye Caldwell Sr. REALTOR, Licensed in Georgia and South Carolina. Call or text Tye at 706.288.7319 for appointment.

Visit my website, www.TyeCaldwellRealtor.com, to view homes for sale listed in the Greater Augusta MLS. and for pertinant information about the Augusta, Fort Gordon, Central Savannah River Area (CSRA) area market.

This exciting news about the Augusta, Georgia/Central Savannah River Area(CSRA) market was shared by my Keller Williams colleague, Aundrea Goodin. Augusta was recently named as one of America's 25 Strongest Housing Markets by Forbes magazine. They rated metropolitan areas with population in excess of 500,000.

In Depth: America's 25 Strongest Housing Markets

Even in the country's most resilient areas, 2009 prices are expected to fall flat.

Click on the Forbes link to read the full in depth story...

http://www.forbes.com/2009/01/07/housing-cities-realestate-forbeslife-cx_do_
0107realestatestrong_slide.html?partner=email

There is a lot of confusion on this topic and I was really unsure how this this new STIMULUS affected my clients that closed in 3/4 QTR '08 and already filed their 2008 income taxes. Now I see that home buyers in this situation may file an amended 2008 tax return with a 1040X form and they should consult with a tax advisor to ensure they file this return properly. ****HR 3221 was a homerun but HR 1 is a grandslam. This FAQ on this IRS link will provide clarity.

http://www.federalhousingtaxcredit.com/