Loan Information
First-time homebuyer tax credit extended
July 14, 2010 by Jeff Thomas · Leave a Comment
The Homebuyer Assistance and Improvement Act of 2010 extends the closing date requirement for the first-time homebuyer tax credit from June 30, 2010, to September 30, 2010. This gives qualifying individuals who, prior to May 1, 2010, entered into a binding written contract to purchase a home, an additional three months to close on the [...]
The Credit Crunch and Student Loans
June 15, 2010 by Jeff Thomas · Leave a Comment
You’ve heard about the Credit Crunch and its tightening effect on lending guidelines in the mortgage industry, but what does it mean to millions of Americans who need student loans to help pay their college tuition?
The student loan market looked pretty bleak during the first quarter of 2008. Not only did the reduced benefits created [...]
FHA seller concession rules
June 2, 2010 by Jeff Thomas · Leave a Comment
The Federal Housing Administration (FHA home loans in Virginia) is eliminating one of the mainstays to its program sometime this summer. Gone will be the 6 percent seller concession and in will be the 3 percent seller concession. The reason for eliminating the concession according to FHA is the 6 percent seller concession exposes them [...]
The First Two Steps in Buying a Home
June 1, 2010 by Jeff Thomas · Leave a Comment
Fairfax, VA – Statistics suggest that the Internet is the first destination and source of information for potential home buyers. In fact, nearly 80% of potential buyers reportedly begin their home buying process online. And why not? The Internet has a wealth of information and resources that can aid in the beginnings of the home [...]
Home Buyer Tax Credit Extended for Military Personnel
June 1, 2010 by Jeff Thomas · Leave a Comment
Fairfax, VA – The popular Home Buyer’s Tax Credit has expired for all Americans, except for three very deserving groups: the brave men and women of the uniformed services of the U.S military, members of the Foreign Service of the U.S., or employees of the intelligence community who are actively serving outside of the U.S. [...]
Interest Rates on the Rise?
May 4, 2010 by Jeff Thomas · Leave a Comment
Fairfax, VA – For the last couple of years, home buyers have benefitted from an affordable combination of lower home prices and lower interest rates. But if you’ve been on the fence about buying a home, or waiting for even better buying opportunities, now might be the time to give us a call to see [...]
Life After Bankruptcy
March 14, 2010 by Jeff Thomas · Leave a Comment
Fairfax, Virginia – Bankruptcy is an uncomfortable subject for a variety of reasons. I have been talking with clients since the economy and housing crisis began over two years ago about bankruptcy. But because I am in the mortgage business and filing for bankruptcy affects one’s ability to get a mortgage I get tons [...]
Home Buyer’s Tax Credit About to End
February 28, 2010 by Jeff Thomas · Leave a Comment
Fairfax, Virginia
You’re probably up to your neck by now in forms and paperwork as the April 15th income tax deadline approaches. Maybe you’ve already completed your taxes, paid your bill, or are awaiting your refund check. Either way, now is the perfect time to revisit the extended and expanded Home Buyer’s Tax Credit.Why? Because now, [...]
A Box of Life for Valentine’s Day
February 3, 2010 by Jeff Thomas · Leave a Comment
When we think of Valentine’s Day, we usually think of flowers, a box of chocolates and a romantic dinner with the one we love. Those are very nice ways to show the special people in our lives just how much we love them.
But I want to share with you a way that you can show [...]
Those Who Wait Will Pay Thousands More This Spring
February 3, 2010 by Jeff Thomas · Leave a Comment
Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).
Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and [...]
New Home Search App for the I-Phone
January 26, 2010 by Jeff Thomas · Leave a Comment
Take your home search mobile – for FREE!
The REALTOR.com® iPhone App
Instantly access over 4 million homes
View listings on an interactive map
Share listings via Facebook & Twitter
Homebuyer Tax Credit and IRS Form 5404
January 24, 2010 by Jeff Thomas · 1 Comment
Fairfax, Virginia:
The Worker, Homeownership, and Business Assistance is the larger bill that included the homebuyer tax credit additions. Taxpayers wanting to take advantage of the first time home buyer credit (up to $8,000) or the new repeat home buyer tax credit (up to $6,500) can now get the revised IRS form 5405 to submit with [...]
90-Day Seasoning Waiver Expanded
January 18, 2010 by Jeff Thomas · Leave a Comment
90-Day Seasoning Waiver Expanded
Fairfax, Virginia: This update from FHA Virginia Loans was released on Friday January 15th, 2010, as an excerpt from the CFR (Code of Federal Regulations) without a corresponding Mortgagee Letter and contains information about FHA’s policies regarding the waiver of the 90-day seasoning required for sellers.
Here are the 6 things you need [...]
Tribute To Dr. Martin Luther King
January 16, 2010 by Jeff Thomas · Leave a Comment
Fairfax, Virginia
From Dr. Martin Luther King Jr.
In honor of Dr. Martin Luther King, I decided to dedicate this post to the incredible speech he gave on August 28, 1963. The speech gives you the opportunity to see compassion, enthusiasm, and the opportunity to inspire others into action, just as Dr. King did during his short [...]
The Times They Are A Changing
January 8, 2010 by Jeff Thomas · Leave a Comment
What’s ahead for home loans in 2010
This year could bring significant changes from 2009 for those seeking home loans. Over the last year, home prices fell to 2003 and earlier levels in many parts of the country. In addition, home loan rates declined to the lowest levels on record and this combination led to the [...]
