ATTENTION:
CHFA WEEKLY RATE to qualified buyers is 4.5% fixed with one point
This rate is in effect until Thursday morning, January 7, 2010 at 10:30 am
*This rate may change every Thursday Please check back to see if the rate has changed. Purchase contracts must be accepted and signed by the seller in order to lock into this great rate. Call one of our Realtors for more details. We can find you the home you'll love and you will have more buying power with a lower rate!
*************************************** News Flash************************************************
The governments new stimulus package regarding home purchases:
1) The law extends the $8,000 first time Tax Credit to any purchase which closes on or before April 30th 2010. (a first time buyer includes anyone who has not owned a home for the past 3 years.)
2) A $6,500 Tax Credit for qualifying “move-up buyers” purchasing a home before the April 30th 2010 deadline while having owned a home 5 or more years prior to the recent purchase.
3) Home buyers with binding contracts as of April 30th will also qualify for the credit as long as they complete the transaction within 60 days.
4) Available to homebuyers with incomes up to $125,000 for single and $225,000 for a joint return.
5) Available for homes which cost less than $800,000.
6) Provides authority to the IRS to do greater oversight while processing the return and requires that the taxpayer claiming the credit be 18 or older.
7) Members of the military, military intelligence, and foreign service who are on qualified extended official duty are not subject to recapture fee and individuals who have been deployed overseas for 90 days or more in 2008 or 2009 can claim the credit through April 31, 2011.
**as with any information not specifically related to the purchase or sale of real property, please accept this as general information and go to your tax accountants, lawyers or mortgage officers for more personal and detailed information.
Understanding a 1031 Like-Kind Exchange