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Military

July 30, 2010 By Bruce Glassinger

Military First Time Home Buyer Tax Credit

This comes directly from the IRS:

Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.

This is a much deserved benefit given to military families. All that qualify should take advantage of the First time home buyer tax credit before it is no longer available.

To get pre-qualified for a VA Loan and take advantage of the extended First Time Home Buyer Tax Credit, Inquire Here>>>

Filed Under: VA Loan Information Tagged With: Military, Military Tax Credit, VA Loan

July 13, 2010 By Bruce Glassinger

JUMBO VA LOANS – GET THE FACTS

Imagine this - You need a Jumbo Loan and for any number of reasons, you need one with minimal or NO money down. You are working with a lender that has you believing an FHA Jumbo Loan is the only choice you have.

You're not alone...and it's not the only choice you have.

What most veterans don't realize, on July 30, 2008, the President signed the Housing and Economic Recovery Act of 2008 which allows for a "Temporary Increase in Maximum Loan Guaranty Amount for Certain Housing Loans Guaranteed by the Secretary of Veterans Affairs." As of 2010, this increase is still available, but no one knows for how long, which is the reason why I underline "Temporary".

Basically, in short, veterans and current military personnel can get a zero down VA Loan over $417,000 in certain High Cost Counties around the United States. In fact, in some counties, you can actually get a zero down jumbo VA loan amount up to $1,094,625 and still with NO mortgage insurance!

Yet there are still so many veterans not taking advantage of this benefit they earned. Either they don't know about it, they are working with a broker that doesn't have much experience with VA loans (very common) or they are working with a broker that is not able to offer them (also very common).

With FHA's mortgage insurance and Jumbo Conforming Private Mortgage Insurance "PMI", if you are a veteran, VA Jumbo Loans should really be your only choice if you are looking to put less than 20% down.

Lastly, a common mistake made by veterans is to go with a broker they know, a realtor referral or simply, not do enough research. This could be a very costly mistake. Everyone knows that VA allows lenders to charge a 1% Origination fee. Of course, this can make a VA loan very pricey and often times deter the veteran from using their VA eligibility and taking advantage of the many benefits a VA Loan offers.

<<CONNECT WITH A JUMBO VA LOAN LENDER NOW>>

Filed Under: Jumbo VA Loans Tagged With: Jumbo VA Loan, Loan Guaranty, Military, No Cost, No Money Down, No Mortgage Insurance, Origination Fee, VA eligibility, VA Lender, VA Loan, VA Loan Lender, VA Loan Offers, VA Loans, Veteran Affairs, Veterans, Zero Fees

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Veteran closing cost assistance

VA CLOSING COST ASSISTANCE

There are over 18 million US Military Veterans living in the United States. Less than 1% of the population are even aware they're eligible for a Closing Cost Assistance Program. Find out if you're one.

$500,000
$500,000
7.5%
$500,000

Please submit your request below.

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