For the past 4 years I have been buying my home from my uncle through an escrow service. The private mortgage does not show on my credit report, but I do claim the interest as a deduction on my taxes. I have placed that home on the market and I am purchasing another home. Will I be able to claim the first time home buyer tax credit since my previous mortgage was held privately?
I’m trying to buy a home in sullivan county new york. I feel like I am being given the run around. Everytime I find a house something changes, I looked at a house for 150k mortgage was supposed to be around 1300 a month, I decided that was a little high so I came down to 130k home mortgage still going to be 1200 a month, dropped down to 99k mortgage is going to be 1100 a month, closing costs are going to run 10k?
The bank offered me a 6% seller concession but say I am still going to need 6 to 7 thousand dollars? The real estate agent told me to look into grants for low income or first time home buyer. We are a family of 4 (2 adults 2 kids) and income is about 37k, I however plan to go back to work once we move, right now we live in income based housing and it doesn’t pay for me to work, just more to pay to them. I am really at a loss here and need to know what’s going on, none of this makes sense to me and with things always changing, my interest rate has gone from 6 to 6.75%.
I need to get pre approved for a mortgage, but I am uncertain of where to start. I have my finances in order, and am ready to have someone try to financially approve me. Based on your experiences or knowledge who can give the best rates, and who is most likely to approve me?
Learn How To Use The Home-buyer’s Tax Credit To Reduce Your Down Payment and eliminate closing costs.
You’ve probably heard about the new-and-improved First-Time Homebuyer’s Credit. It’s a sweet deal that could put money in your pocket.
Even though it’s called the First-Time Homebuyers Credit, you’re eligible if you’ve owned a home before – just not in the past 3 years.
If you buy before April 30th 2010 you’re eligible, the IRS will cut you a check for up to 8,000. It’s tax free money and you don’t have to pay it back.
