Pennsylvania Real Estate Update

HIGHLIGHTS     First time home buyers who purchase a principle residence between 4-9-08 and 7-1-09 qualify for the tax credit.  (it is retroactive for buyers who have already purchased.)   The maximum credit is $7,500 or 10% of the purchase price if purchase is lower than $75,000.   If home is purchased in 2009, home ...

NAR recommends Congress pass new housing stimulus legislation that includes the following priorities: 1. Remove the requirement in the current law that first-time home buyers repay the $7,500 tax credit, and expand the tax credit to apply not only to first-time buyers but also to all buyers of a primary residence. 2. Revise the FHA, Fannie Mae ...

NAR recommends Congress pass new housing stimulus legislation that includes the following priorities: 1. Remove the requirement in the current law that first-time home buyers repay the $7,500 tax credit, and expand the tax credit to apply not only to first-time buyers but also to all buyers of a primary residence. 2. Revise the FHA, Fannie Mae ...

Many of us anymore have credit that is not quite good enough now to get a mortgage, or at least not good enough to get the very best rate.  Divorce, illnees, job loss, kids moving back in, bad luck and other life events may have marked up your credit and that can cost you literally thousands if not a million dollars in higher payments for ...

Good question, prospective home buyer! And the answer depends on so many things, but really focuses on:Credit ScoreDown PaymentCredit Scores, your "mid" score needs to be 620 or better. What is a "mid" score? Well there are three main Credit Information Repositories--Trans Union, Equifax, and Experian. So that means that 2 out ...