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. [...]
Taxes Are Your Biggest Expense!
March 19, 2010 by Jeff Thomas · Leave a Comment
Fairfax, Virginia: Do you realize that your biggest expense every month is TAXES? If you don’t believe me, just look at your paycheck and see how much you earned versus how much you are actually bringing home! As you strive to save more money, eliminate debt, and build a successful financial future, minimizing your tax [...]
Write-offs to Remember
February 12, 2010 by Jeff Thomas · Leave a Comment
Deductions in the Loan Process For Homeowners in Fairfax, Virginia
Write-offs are the government’s way of rewarding taxpayers when they’ve done something the government likes. And to judge by the write-offs, the government likes it when people borrow money to buy a house. There are write-offs aplenty, many of which people often forget.
Fairfax, Virginia homeowners need [...]
Many Changes to FHA Since 2000
November 5, 2009 by Jeff Thomas · Leave a Comment
With over 1,000 changes to FHA programs since 2000, it is important to work with someone that understands how the “new” FHA loan works. In the last 5 years there have been significant changes made to FHA guidelines designed to make it much easier to originate these loans. but that has not actually been the case. [...]
Senate Passes Unemployment Extension, Home Buyer Tax Break
November 5, 2009 by Jeff Thomas · Leave a Comment
The Senate voted to extend the $8,000 first-time home buyer tax credit. Additionally, the new bill also includes a $6,500 credit for existing homeowners who have been in their current residence for at least five years.
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NAR summary and comparison
Summary:
The Refurbished Home Buyer Tax Credit Details
Current
Existing $8,000 tax credit is through [...]
