first time homebuyer
7 Reasons to Own Your Own Home
March 10, 2009 by admin · Leave a Comment
7 Reasons to Own Your Own Home
Source:
National Association of Realtors: Guide to Home Buying
1.) Tax Breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying your home.
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2.) Gains.
Since 1989, national home prices increased at an average of 5.5% annually. And while there’s no guarantee of appreciation, it is estimated that, through price gains and reducing mortgages through payment of principle, a typical homeowner has $144,000 in equity in a home, based on data from the Federal Reserve.* *”Flow of Funds Accounts of the US,” Federal Reserve Statistical Release, Table B.100 Three Days of the Condor film
3.) Equity.
Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
4.) Savings.
Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
5.) Predictability. Running with Scissors video Unlike rent, fixed mortgage payments don’t go up over the years, so your housing costs may actually decline as you own the home longer. (Note: Adjustable mortgages may change if there is a change in interest rates.) However, keep in mind that property taxes and insurance costs may rise.
6.) Freedom.
The home is yours. You can decorate any way you want and be able to benefit from your investment for as long as you own the home. Bud Abbott Lou Costello Meet Frankenstein rip
7.) Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you establish lasting friendships.
first time homebuyer
Missoula Montana's First Time Homebuyer Programs
March 10, 2009 by admin · Leave a Comment
Missoula Montana’s First Time Homebuyer Programs Perfect Opposites dvd The Rainmaker psp
The State of Montana offers a some great programs to help people purchase a home through the Montana Board of Housing.
The Regular Mortgage Bond Program offers an interest rate lower than the market rate, which makes your client’s purchasing power go farther, and, MBOH provides closing cost assistance to every buyer in this program. This loan is an FHA loan. For more information on how to apply, click here.
The Mortgage Credit Certificate Program sex bomb плющенко Haiku Tunnel dvd The Tragedy of Macbeth the movie Vanity Fair full
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provides eligible homebuyers with the opportunity to buy a home by keeping more money in their pockets each month. An MCC reduces the amount of federal income tax homeowners’ pay, giving them more money to use toward their mortgage. For more information on how to apply, click here.
The Set-aside Program
is designed to help buyers who don’t qualify under either of the other two programs. Many times, these buyers can afford a monthly payment, but are struggling to save their down payment and closing costs. Or, they face an “affordability gap”, the difference between what they can afford to purchase, and what homes in their area actually cost. In this program, MBOH partners with cities, counties, non-profits, and others to complete a purchase. The homebuyer takes out a loan from MBOH for as much as they qualify for, currently at 5.25%, and the non-profit steps in with the balance. This difference can be as little as $1,500, or as much as $45,000, depending on the location in the state, and the needs of the buyer.
Each of these programs has requirements that must be met for both the buyer and the property. The Set-asides require approved Home Buyer Education for their clients in order to qualify for the down payment and closing cost assistance. Home Buyer Education classes are available statewide through a network called the Montana HomeOwnership Network. The schedule of upcoming classes can be found on their website http://www.nwmt.org/schedule.htm
, or by calling 1.800.318.0268.
If you need help finding a new home in Western Montana, contact Kevin & Monica Ray at Access Realty at 406-207-1185.
