#1 - Buyers need 20% cash down to buy a home Did you know that some buyers can still buy a home with NO DOWN PAYMENT? The USDA Rural Development and Department of Veterans Affairs loan programs both offer 0% down payment options. In the case of the USDA, it is income and location restricted. For VA loans, active military and veterans are often eligible based on their time, type and years of service. There can also be some smaller local programs with very specific criteria that can get you close to no down … [Read more...]
USDA Rural Development Program Receives Cash Infusion
July 29, 2010 by 3 Comments
According to the National Association of REALTORS, the USDA will once again have funding for their guaranteed loan program: ------------------------------------------------------------- Thousands of Rural Home Buyers Aided by Passage of Housing Funding Measure Washington, July 28, 2010 The restoration of the single-family rural housing program that would guarantee home loans for rural buyers was passed by the Senate today and is on its way to President Obama. The National Association of Realtors® has … [Read more...]
Minnesota Appliance Rebate Web Site Down
March 1, 2010 by 2 Comments
This just came through my email... is it down due to a problem with the vendors web site or due to unprecedented demand? Only time will tell... Office of Energy Security, Minnesota Department of Commerce ENERGY STIMULUS UPDATE Monday, March 1, 2010 Rebate Web Site Unavailable We are aware that Appliance Rebate website is currently unavailable. We are working with the vendor providing this service to identify and repair the problems. The 1-877-230-9119 hotline is available but may be busy because of high … [Read more...]
Minnesota Appliance Rebate Program Details Released – Up To $200 Back!
February 1, 2010 by 7 Comments
The Minnesota Department of Commerce's Office of Energy Security (what a mouthful) has just released more information on their energy star appliance rebate program. On March 1 @ 8am the website and a phone number will launch with a rebate reservation system - residents will have to pre-register for the rebate and receive a specific reservation code. There are only approximately 24,500 rebates for the entire state so they are likely to go VERY FAST. More info: http://www.mnappliancerebate.com/ March 1 Update - … [Read more...]
IRS Releases Tax Form for Home Buyer Credit – Expect 3-4 Month Wait
January 19, 2010 by Leave a Comment
The IRS released the tax form required for claiming the new version of the home buyer tax credit on January 15th. If you're planning on claiming the credit, know that the IRS will require documentation proving you purchased the home in the eligible period. Since this documentation will not be electronically submittable, you will have to file a paper return or amended return. In addition, due to the increased scrutiny of those claiming the credit, it may take 3-4 months to get the money. The good news is … [Read more...]
Financing For Some Condos Becoming Very, Very, Very Difficult
January 11, 2010 by 1 Comment
The housing boom brought us a slew of new community developments including condos, townhomes and retail/condo buildings. While financing on townhomes is still doable, financing options for condo & mixed-use buildings is becoming very difficult. The developments with the hardest time getting financing are the ones that have had the highest rates of foreclosure. So many condos built from 2005-2008 in the last boom were purchased either at the top of the price curve and/or were bought with challenged … [Read more...]
New and Repeat Home Buyer Tax Credit Information
January 8, 2010 by Leave a Comment
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that: Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010. Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers … [Read more...]
Minnesota to Offer Rebates up to $200 for New Appliances!
January 6, 2010 by 1 Comment
This is the latest information available (as of 1/4/2010) from the State of Minnesota's "Office of Energy Security" web site. With an expected program start date of March 1, 2010 and money available for only approximately 25,000 homeowners, it will be important to keep a close eye on this! --------- Trade-in & Save Appliance Program Targeted for a March 1, 2010 start, the Trade-in & Save Appliance Program, part of the American Recovery and Reinvestment Act (ARRA), will offer approximately 25,000 … [Read more...]
Financial Help For Homeowners Displaced By Foreclosure
December 17, 2009 by Leave a Comment
My friend Ed Nelson over at the Minnesota Home Ownership Center (MNHOC) posted information about their new program to help homeowners AFTER their foreclosure on their blog. Here is an excerpt from that post: The Minnesota Home Ownership Center is pleased to announce a new pilot program that may assist families AFTER the foreclosure of their home with up to $2,500 to relocate and secure alternative housing. Funding for this pilot program has been provided by the Saint Paul Foundation Community Economic Relief … [Read more...]
