Congress Enacts Bigger and Better
Home Buyer Tax Credit
In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers. Unlike 2008 similar tax credit for first-time home buyers, which was limited to up to $7500; the new credit does not have to be repaid.
But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible. The amount of credit available for tax year 2009 can be up to $8000. Here are the remaining qualifications:
*Must be first-time home buyer
*Home must be used as your principal residence
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Friday, March 27, 2009
Saturday, February 28, 2009
12 Ideas for Down Payment Funds
If you are a would-be home buyer having difficulty coming up with a down payment, you might be interested in reading this article by Marcie Geffner published at Bankrate.com. It offers a dozen suggestions as to how you might come up with the funds for your home purchase. Read suggestions for obtaining down payment
Friday, February 27, 2009
Down Payment Assistance Programs - USA
American Dream Down Payment Initiative
The American Dream Downpayment Assistance Act authorizes up to $200 million annually for fiscal years 2004 - 2007. ADDI will provide funds to all fifty states and to local participating jurisdictions that have a population of at least 150,000 or will receive an allocation of at least $50,000 under the ADDI formula. ADDI will provide downpayment, closing costs, and rehabilitation assistance to eligible individuals. The amount of ADDI assistance provided may not exceed $10,000 or six percent of the purchase price of the home, whichever is greater.
American Family Funds, Inc.
Nonprofit organization offers buyers assistance in obtaining a down payment through a gift program. Based in Mobile, AL.
The Center of Resources for Economic Education and Development, Inc. (CREED)
CREED, inc. is a non-profit 501 (c) (3) charitable organization that provides economic education to first-time home buyers and other people in the housing industry. This organization also offers down payment assistance programs to people who need help with a home purchase.
Genesis Program
This organization offers down payment grants to home buyers. These are in the form of gifts which do not require repayment.
HomeBuyer Funds.com
A website which offers users an opportunity to search local and regional areas for funding opportunities.
Rural Development Housing & Community Facilities Programs
The Housing and Community Facilities Programs provides a number of homeownership opportunities to rural Americans, as well as programs for home renovation and repair. HCFP also makes financing available to elderly, disabled, or low-income rural residents of multi-unit housing buildings to ensure they are able to make rent payments.
The American Dream Downpayment Assistance Act authorizes up to $200 million annually for fiscal years 2004 - 2007. ADDI will provide funds to all fifty states and to local participating jurisdictions that have a population of at least 150,000 or will receive an allocation of at least $50,000 under the ADDI formula. ADDI will provide downpayment, closing costs, and rehabilitation assistance to eligible individuals. The amount of ADDI assistance provided may not exceed $10,000 or six percent of the purchase price of the home, whichever is greater.
American Family Funds, Inc.
Nonprofit organization offers buyers assistance in obtaining a down payment through a gift program. Based in Mobile, AL.
The Center of Resources for Economic Education and Development, Inc. (CREED)
CREED, inc. is a non-profit 501 (c) (3) charitable organization that provides economic education to first-time home buyers and other people in the housing industry. This organization also offers down payment assistance programs to people who need help with a home purchase.
Genesis Program
This organization offers down payment grants to home buyers. These are in the form of gifts which do not require repayment.
HomeBuyer Funds.com
A website which offers users an opportunity to search local and regional areas for funding opportunities.
Rural Development Housing & Community Facilities Programs
The Housing and Community Facilities Programs provides a number of homeownership opportunities to rural Americans, as well as programs for home renovation and repair. HCFP also makes financing available to elderly, disabled, or low-income rural residents of multi-unit housing buildings to ensure they are able to make rent payments.
Wednesday, February 18, 2009
Don't Just Dream ...Own a home!
Is lack of a down payment preventing you from purchasing a home of your own? Many people in the United States who rent pay as much as a normal mortgage each month so why not pay your own mortgage and build equity? Box of Homes.com has a solution and our directory intends to showyou the many alternative funding options for home buyers. Did you know the Federal and State governments have funding programs for the purpose of turning dreams of home ownership into reality. In addition, there are many charitable organizations which provide gifts, grants and low interest loans for this same purpose. We invite you to explore the listings in the BOH Directory and find out if you are eligible for these special programs.
We hope to enlighten you by introducing a variety funding options available to first time home buyers along with many grants and other types of down payment assistance. Each of these opportunities is focused on making home ownership an "American Reality" rather than simply an "American Dream". In addition, many of these funding options are in the form of a grant which do not require repayment. We invite you to explore our directory of funding options and down payment assistance programs for home buyers.
We hope to enlighten you by introducing a variety funding options available to first time home buyers along with many grants and other types of down payment assistance. Each of these opportunities is focused on making home ownership an "American Reality" rather than simply an "American Dream". In addition, many of these funding options are in the form of a grant which do not require repayment. We invite you to explore our directory of funding options and down payment assistance programs for home buyers.
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