If your are looking for a mortgage in the Lehigh Valley, we wanted to let you know about http://lehighvalleymortgageloans.com/. This is a great new site, specifically set up for Lehigh Valley home buyers looking to get pre-qualified for a low interest mortgage.

http://lehighvalleymortgageloans.com/ is a direct lender, dealing in FHA, USDA, VA, Conventional, and self-employed mortgage loans. Zero down, and low down payments are available to qualified buyers.

The whole process takes about 24 hours and is 100% FREE. All you have to do is visit the site and fill out the quick, easy online form. Within 24 hours you will be contacted and given your mortgage pre-approval to use when making an offer on your home of choice.

Click Here: 

LEHIGH VALLEY MORTGAGE LOANS

The clock is ticking for Lehigh Valleuy buyers who want to take advantage of a $8,000 first-time homebuyer tax credit because all sales must close by the Nov. 30 deadline.

The American Recovery and Reinvestment Act of 2009 authorized a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence between Jan. 1 and Dec. 1 of this year. Eligible buyers include those who haven’t owned a home in the past three years, and who plan to live in the home for 36 months after closing.

The maximum credit is either 10 percent of the purchase price up to $8,000 for a single taxpayer or married couple filing jointly, or $4,000 for married individuals filing separately.

The income limit for single taxpayers is $75,000, while the limit is $150,000 for married taxpayers filing a joint return. The tax credit amount is reduced for buyers with a modified adjusted gross income of more than $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return.

“The American Recovery and Reinvestment Act … extended the first-time home buyer credit into the current year and expanded it from the old amount of $7,500 as the maximum benefit,” said Bill Brunson, Internal Revenue Service spokesman in Phoenix. “That in essence was an interest-free loan that you had 15 years to pay back. This is an $8,000 credit and you’re not required to pay that item back as long as you reside in that home, that’s your principal, primary home, for the next 36 months.”

Taxpayers can claim the credit on their 2008 or 2009 income tax returns, even if they’ve already filed their 2008 returns, he said. IRS Form 1040X can be used to amend your 2008 return, he said.

“Now is a good time to start looking for a new home or to start to close on the paperwork if you qualify for the credit,” Brunson said.

Closing is when all parties sign the papers officially finalizing the deal, and ownership of the property is transferred to the buyer.

FOR MORE INORMATION, OR TO SEE IF YOU CAN STILL QUALIFY – CALL ME TODAY 610-533-4549
Chris Hoffman, Realtor

WASHINGTON) – HUD has announced that consumers may now use the $8,000 first-time home buyer tax credit to help cover their downpayment and closing costs on FHA-insured mortgages.
The move will allow FHA-approved lenders; federal, state and local government agencies; and FHA-approved non-profit organizations to supply home buyers short-term or “bridge loans” up to the amount of the $8,000 first-time home buyer tax credit.

Previously, the home buyer would have been unable to access the tax credit until they filed their next annual tax return or an amended 2008 tax return and received the refund from the IRS.

Housing industry leaders are applauding the move as certain to help boost the number of first-time home buyers coming into the market.

If you are planning to buy a home her ein the Lehigh Valley, an dyou would like more informnation on how to use the $8,000 tax credit for yoru down payment – CALL ME 610-533-4549 to see if you qualify! Chris Hoffman, Keller Williams Real Estate. www.GoValleyHomeFinder.com

Now more than ever is the absolute best time to buy a home here in the Lehigh Valley. As a result of the current economic climate, Lehigh Valley Mortgage rates have dropped to the lowest rates they have been in over 4 years. This creates a tremendous buying opportunity for anyone looking to buy real estate in the Allentown, Bethlehem, Easton areas.

Currently FHA mortgage rates are at 5.5% – This is truly remarkable. Contrary to what you may be hearing on the news, there are plenty of opportunities to get a mortgage. The best part is that you do not need perfect credit! In fact, you can even get 100% financing in certain areas, thanks to the USDA programs available for homes in rural areas.

Combine this with the fact that this is still very much a buyers market, ther has never been a better time to buy. But, this time frame is slowly coming to a close. Experts agree that we are nearing the bottom of the market. What this means is that soon, the market will start going the other way – up.

Right now, you can get incredibly low rates, sellers are very motivated and willing to give more concessions than ever before, and prices are down what they were 4 years ago! Real Estate sales in the Lehigh Valley, like in may other markets are seasonal. So come spring time you will likely see a  a slight rebound, meaning interest rates and prices will climb back up slightly.

So the bottom line is that if you are considering making a move, you should do it as soon as possible. The longer you wait, the more it will cost you. If you would like more information on Lehigh Valley mortgage rates, or more information on buying home here in the Lehigh Valley, Please contact me directly at 610-533-4549.

Chris Hoffman
Keller Williams Real Estate
GoValleyHomeFinder.com

If you are considering buying a home here in the Lehigh Valley – NOW IS THE TIME. Contrary to what you may see or hear on the news, yes you can get a mortgage. If you have a job, a decent credit rating, and at least 3% down payment, there is a very good chance you can get a mortgage right now.

Interest rates continue to be at at all time low, home prices are down, the economy is in the tank, it is 100% a buyers market out there – for now. There is absolutely no better time to buy a house in the Lehigh Valley than today. The longer you wait, you risk prices and interest rates going up, especially if you wait until spring or summer. As it is, real estate is a seasonal business. It is always better to buy in the fall and winter, than to buy in spring or summer.

If you are a potential home buyer, almost everything is on YOUR side right now. But all than can change very quickly. Experts are predicting we are at, or near the bottom of the market. This means that at any moment things will start turning around. When that happens, it will cost you more money to buy a house.

If you would like more information about getting a mortgage or buying a house in the Lehigh Valley, I invite you to call me today to discuss your home buying options.

Chris Hoffman, Realtor
Keller Williams Real Estate
http://govalleyhomefinder.com
Cell: 610-533-4549

USDA insured home loan key points:
 
·         100% loan to value, no down payment required!
·         Unlimited seller assist – payment towards buyer’s closing costs
·         Finance closing costs up to the appraised value of the home
·         30-year fixed rate, no balloons, no prepayment penalties, no recapture fess, etc.
·         Current interest rate:  6.50%  (8-29-08, subject to change, borrowers must qualify)
·         FHA type home condition requirements, insulation standards no longer apply!
·         No limit on loan size up to $417,000
·         No monthly mortgage insurance premium!
·         Flexible credit underwriting, income must be verified and qualify
·         not restricted to first time buyers – anyone who needs a home!
 
Property restrictions:  For sale single family, owner occupied homes, no manufactured homes, twins/duplexes and row homes are permitted
 
Geographic Restrictions:  For towns with populations under 10,000, no flood plains
Eligibility website:  http://eligibility.sc.egov.usda.gov
 
Income Restrictions:  based on family size, family care expenses and county

Call the mortgage line, Dan Thierry at Dominion Mortgage at 610-614-1903 or visit www.dominionrates.com.

Borrowers are flocking to government-insured loans, particularly those offered by the Federal Housing Administration, as they seek to refinance out of costly adjustable-rate mortgages or take out purchase loans with low down payments.  The Mortgage Bankers Association says applications for government-insured loans were up 133.9 percent in July from a year ago, while applications for conventional loans like those purchased and guaranteed by Fannie Mae and Freddie Mac fell 50.2 percent.  The FHA loan limit increases signed into law earlier this year, coupled with the permanent increases included in the recent Housing Bill can be credited with increased applications for these loans.

For More Information on How You Can Get an FHA loan in the Lehigh Valley Please Call 610-533-4549

More than ever, fico scores are important for mortgage loan approval and a factor in determining the interest rate on most conventional home loans.  Here is the short list to maximize your fico score:  #1 pay everything on time, this cannot be emphasized enough, #2 establish credit if you do not have a mix (mortgage, installment and revolving) of reporting accounts and at least a 24 month history  #3 reduce your credit card balances, the lower the balance compared to the limit, the higher your fico score will be – this is the single most overlooked item  #4 age of accounts matters, try not to close accounts with a good, long history, opening new accounts will probably reduce your fico score for a while  #5 inquires matter, but are only small factor, these sometimes get too much attention.  A fico score over 720 is considered a good fico score.  Mortgage companies use all three major credit bureaus and typically use the middle fico score of the three as the indicating credit score.  For more information on credit and credit repair services, visit our website.

Call the mortgage line, Dan Thierry at Dominion Mortgage at 610-614-1903 or visit www.dominionrates.com.

Bridge loans, sometimes known as swing loans, are short term loans intended to access trapped home equity for the purchase of buying a new home.  For example, if John and Mary Homebuyer have their current home for sale and will net $200,000 (equity) after paying their selling costs and current mortgage.  That $200,000 will be the down payment on their new home.   John and Mary do not have their current home sold yet, but they find their dream home for $500,000 and they need to close next month.  John and Mary cannot count on selling their existing home in time, but expect it will sell soon.  The challenge is they need to get that $200,000 in trapped equity to the closing table in the form of cash when they settle on their dream home – the bridge loan accomplishes this.  Bridge loans are intended to be made on a home that will be for sold in the short term, otherwise a standard home equity loan would do the job.

Call the mortgage line, Dan Thierry at Dominion Mortgage at 610-614-1903 or visit www.dominionrates.com.

The answer depends upon the mortgage program and a buyer’s specific qualifications.  Both Veteran’s Administration (VA) and USDA Guaranteed Rural Housing still allow zero down payment home loans.  You read that right, zero down payment and from a program insured by the Federal Government.  FHA loans remain at a minimum 3% down payment and some conventional (non-government insured) home loan programs allow 3% down.  Down payment funds can be gifts or grants with many loan programs.  There are several grants available in the Lehigh Valley.  Having a down payment is important and the more the better, so start saving now, but you can still buy a home with minimal or no down payment.
 
Call the mortgage line, Dan Thierry at Dominion Mortgage at 610-614-1903 or visit www.dominionrates.com.