Monday, July 18, 2011
Home Loans Chick: Increase your buying power with MCC's!
Home Loans Chick: Increase your buying power with MCC's!: "If you fit the income guidelines which are very generous and have not owned a home in the past 3 years (unless buying in a targeted area) yo..."
Increase your buying power with MCC's!
If you fit the income guidelines which are very generous and have not owned a home in the past 3 years (unless buying in a targeted area) you may be interested in a mortgage credit certificate! This is a dollar for dollar tax credit that will put additional money into your pocket every month and that additional income can be used to increase your buying power!
Acquisition Cost Limits
You have to work with a participating lender which Legacy Group is and you must pay a fee of $650 to the Washington State Housing Finance Commission. Also, a first time homebuyer class is required.
This dollar for dollar tax credit will last you for the life of your loan. If you refinance you may be eligible to get it reissued. Certain guidelines do apply.
You can use this awesome credit on conventional, FHA, VA or USDA financing. There may be recapture tax if you sell within 9 years depending on your income and gain on sale so speaking with your tax advisor is strongly recommended.
If you are in the market for a new home and want to see if you qualify, please contact me and lets see if this program would work for you and what your credit would look like! You can also check out the Washington State Housing Finance Commission at http://www.wshfc.org/buyers/MCCprogram.htm for more information.
The income and sales price guidelines for Washington State are as follows:
Income Limits
Borrowers must not exceed these Maximum Annual Income Limits:
County | Non-Targeted 1-2 Persons | Non-Targeted 3+ Persons | Targeted 1-2 Persons | Targeted 3+ Persons |
| Jefferson/Skagit/Whatcom | $70,000 | $80,000 | n/a | n/a |
| Clark/Island/Kitsap/Pierce/San Juan/Thurston | $80,000 | $90,000 | $80,000 | $90,000 |
| King/Snohomish | $90,000 | $97,000 | $90,000 | $97,000 |
| All other counties | $65,000 | $75,000 | $80,000 | $85,000 |
Borrowers must meet these property acquisition cost limits. Acquisition cost limits of a single-family residence must not exceed the following:
County | Non-Targeted | Targeted |
Clark/Island | $330,000 | $360,000 |
Jefferson/Pierce/Snohomish | $370,000 | $395,000 |
King/San Juan | $450,000 | $475,000 |
Kitsap/Whatcom | $300,000 | $335,000 |
Skagit | $285,000 | n/a |
All Other Counties | $235,000 | $285,000 |
Wednesday, June 1, 2011
If you rent you are paying a mortgage, why not pay your own?
The rental market is hot right now and rent prices are reflecting the supply and demand out there! People who had their homes foreclosed on need somewhere to live and the demand is growing by leaps and bounds. With that being said there are a lot of homes on the market right now that are killer deals and why pay your landlord's mortgage? Out of 10 cities across America that have housing markets that are predicted to rise, 5 of those are in Washington State. You are paying a mortgage right now whether you own a home or not...why not pay your own mortgage and get the benefits? Whether you are a first time home buyer or buying an investment property now may be the time to get serious about it. http://247wallst.com/2011/05/11/housing-markets-that-will-rise-most-this-year/3/
Saturday, May 28, 2011
Why use me for your home financing needs?
KNOWLEDGE: I have been doing loans for over 14 years! I am dedicated every day to staying on top of what is going on in this industry and it is becoming a challenge every single day! If you are using someone that is just getting by, then in my opinion you are risking a lot! There is so much to know and so many changes…just today Chase changed some more of their guidelines..its crazy! I am qualified, licensed and able to help you and your clients close on their home!
INTEGRITY: This is truly one of the most important transactions in the lives of our clients! Because of that it is important that you work with someone you trust and feel is an expert with integrity! People trust me with their most valuable asset…their money! It is a responsibility I take very seriously and I know that your success is my success!
LOCAL EXPERTISE: I have been in this area for over 6 years now and in the Puget Sound for over 20 years. I have a lot of connections through out Tacoma
SUCCESS! I measure my success through the satisfaction of my clients, not by awards or achievements! I will always provide to you and our clients sound and trustworthy advice to help you all achieve your goals!
MY GOAL IS SIMPLE....TO HELP YOU REACH YOURS!
For more information please contact me at 253-228-1200 or juliesw@legayc.com.
You can also apply online 24/7 at http://www.legacyg.com/juliesw
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