The THDA (Tennessee Housing Development Agency) is offering a new alternative to their Great Start program.  Buyers who need help with thier downpayment can get a 3.5% second mortgage with payments deferred until 6/1/2010.  This allows first-time buyers to use the anticipated $8,000 first time buyer tax credit toward a purchase now.  The 2nd mortgage may [...]

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First time home buyers who qualify for the $8000 tax credit can claim the credit on thei 2008 tax return!!  Even if you’ve already filed your taxes you can file an amended return and claim the credit now.
There are a few important things to know about this Tax Credit from the Stimulus Plan…
1.  You Don’t Have to Pay it [...]

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There has probably NEVER been a better time for the first-time home buyer.  The market is overflowing with inventory, interest rates are very low and there are programs available for 100% Financing and even 102% Financing, so you can still buy a home with no money down.  And if that weren’t enough reason to buy [...]

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I have been watching the recent mortgage developments pretty closely.  The demise of the down payment assistance programs, due to end October 1, 2008, is probably a signifanct factor to the recent increase in activity in my area.  I recently spoke to a loan officer and he doesn’t believe they will actually put an end [...]

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If you are a first time home buyer this is your market!  There are deals galore just waiting to be snatched up and you are uniquely positioned because you don’t have a home to sell.  Many home owners have been forced to sit on the sidelines waiting for their home to move and are missing out [...]

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Inman News reports this morning that “Long-term mortgage interest rates continued to fall Tuesday, and the benchmark 10-year Treasury bond yield dipped to 3.78 percent. The 30-year fixed-rate average sank to <b>5.55 percent,</b> and the 15-year fixed rate slid to 5.06 percent. The 1-year adjustable rate, however, was up at 5.34 percent.”  Now is a [...]

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