First Time Buyers

New IRS guidelines on obtaining first-time and repeat home buyer tax credits

The Internal Revenue Service (IRS) recently issued new guidelines and clarified documentation that taxpayers must submit to successfully obtain the federal tax credit for home buyers. KEEP THIS IN MIND • The federal tax credit for home buyers was extended and expanded late last year. Qualified first-time buyers may be eligible to receive a tax credit of up to $8,000 on homes purchased before April 30,...

FHA Loan Changes for 2010 by Aaron Zapata Prudential CA Realty

The FHA has informed us of a number of changes that are taking place this year.  We've already seen the 90-day flip rule removed, but they are increasing their fees, limiting seller contributions, raising minimum fico scores, and in some cases increasing the minimum down payment required.  Please call me or your loan officer to see how these changes might affect your specific...

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