Are Mortgage Companies Still Lending?

There is so much speculation in the media today about whether or not banks and mortgage companies are lending. The media blows a lot of things out of proportion, so I wanted to give you the information you need as a buyer in today's market.

I have interviewed Jessica Tebo at Well's Fargo Home Mortgage, to get all the information you need about loans to be an informed buyer in today's market. Click below to listen in to this pre-recorded call:

Understanding "Agency" In Mississippi

What is "agency"? What do I need to know as a Buyer?

Get more information at www.prchomes.com/buyer.html

New Buyer Tax Credit

With the new stimulus package comes an increase in the New Home Buyer Tax Credit. The old credit was actually a loan, to be re-paid over a 15 year period. The new tax credit is $500 more, and is NOT a loan. But there are some stipulations, so it's important to get as much information as possible.

$8,000 Home Buyer Tax Credit at a Glance:

* The tax credit is for first-time home buyers only (if you have owned a home over the past 3 years, you are not eligible).
* The tax credit does not have to be repaid.
* The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
* The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
* Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

To find out more about this tax credit, visit the Federal Housing Tax Credit Site.