first time home buyer – owner loan

January 30, 2012

Q&A: I was looking for details about first time home owners 8000 dollars stimulus pay?

Filed under: First Time Home Owner — Tags: , , , , , , , , , — admin @ 6:08 pm


Question by greatmom: I was looking for details about first time home owners 8000 dollars stimulus pay?
I am a first time home owner i was looking for a 8000 dollar stimulus money that the government is giving away.

Best answer:

Answer by Heather
$ 8,000 Home Buyer Tax Credit at a GlanceThe tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.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.How do I claim the tax credit? Do I need to complete a form or application?Participating in the tax credit program is easy. You claim the tax credit on your federal income tax return. Specifically, home buyers should complete IRS Form 5405 to determine their tax credit amount, and then claim this amount on line 67 of the 1040 income tax form for 2009 returns (line 69 of the 1040 income tax form for 2008 returns). No other applications or forms are required, and no pre-approval is necessary. However, you will want to be sure that you qualify for the credit under the income limits and first-time home buyer tests. Note that you cannot claim the credit on Form 5405 for an intended purchase for some future date; it must be a completed purchase.



Give your answer to this question below!

January 24, 2012

Q&A: A question about first time home owners credit?

Filed under: First Time Home Owner — Tags: , , , , , , — admin @ 6:07 pm
first time home owner
by National Library of Scotland


Question by Vishnu S: A question about first time home owners credit?
I am 18 years old, with a stable job, my parents are travel to give me liquidate to buy a house, will I qualify for the first time home owner credit, if the admitted is payed off and bought by the parents by giving me the cash??? Because, technically I wont be paying for it, but will be paying my parents in payments, because i don’t have any credit established as yet. Thanks in advance.

Best answer:

Answer by Alterfemego
If the property is purchase in your name only, then yes you may qualify for that tax credit.



What do you think? Answer below!

November 13, 2011

Q&A: Can I get the 2009 first time home owners tax credit if i have a cosigner?

Filed under: First Time Home Owner — Tags: , , , , , , — admin @ 6:10 pm
first time home owner
by National Library of Scotland


Question by beaz012001: Can I get the 2009 first time home owners tax credit if i have a cosigner?
I live with my fiance who owns a condo, and before we get espouse we desire to buy a house together. My fiance has excellent credit, and i have good credit. Can i have her co-sign on a mortage (so that we can get a better interest rate) and static be able to recieve the 2009 First Time home owner tax credit? She does own her condo!

Best answer:

Answer by Steve D
No – you will be considered co-owners and by her already owning a primary residence means that you will no longer be first-time home buyers. The only way you can qualify is if you can get the mortgage by yourself and do not put her on the title.



Give your answer to this question below!

November 4, 2011

Can I file to receive the first time home owners credit if I am on the title of my parents house?

Filed under: First Time Home Owner — Tags: , , , , , , , , , — admin @ 6:07 pm
first time home owner
by National Library of Scotland


Question by fancypinksapphire: Can I file to receive the first time home owners credit if I am on the title of my parents house?
I would wish to buy a home before the tax deadline this April to receive the first time home owners tax credit but My mom bought a house 2 years ago and put my name on the title just in case something happens. I wear’t pay rent and my name is not on the insurance or home owners. Can I still claim this as my first home?

Best answer:

Answer by Lassard
I don’t think so.



Know better? Leave your own answer in the comments!

October 16, 2011

Protect Your Home — With A Home Owners Insurance

Filed under: First Time Home Owner — Tags: , , , — admin @ 4:38 pm
first time home owner
by National Library of Scotland


Protect Your Home — With A Home Owners Insurance

Joplin, Missouri suffers direct hit from tornado, claiming at least 24 lives. The scale of the damage appeared to be the worst in this southwest Missouri city. The big question now is: how are the people of Joplin coping up with the situation? Of course it’s not easy. It will never be easy. When a tornado flattens your house and you’re quite surprised that you’re still alive, it’s a sign that there’s still a chance to fix a mistake. What mistake? For not putting your property under home owners insurance.

 

Home owners insurance covers almost all personal insurance protection, from loss of personal possession of homeowners, liability insurance for accidents and content loss. Tornado, hurricanes, flash floods and earthquakes are just some of nature’s way to remind us how fragile we humans are. If you chose to live in the west coast, there’s the San Andreas fault to deal with. The east coast, on the other hand, is a hurricane-prone area. The most catastrophic hurricanes that can form on planet Earth is right there at the Atlantic (remember Hurricane Isabel)? If you’re in the Midwest, a massive tornado like the one in Joplin will surely cause damage to your properties. So regardless where you are in the United States, there’s always something destructive to deal with.

]]>

 

Your only protection now is to put your properties under home owners insurance. Make sure to list all the open and named perils you want to cover, because most home owners insurance policies do not include claims due to floods, war and termites infestation. One company that you can try, especially if you are living in a coastal area is Better Property Insurance. This company specializes in providing property insurance for coastal homes. Just like what I mentioned earlier, if you have a house near the beach, you will be dealing with lots of wind and water damages in the event of a hurricane. There’s no way to protect your home against physical damages; it’s hard to start all over again especially when your property is not insured. With home owners insurance, at least Better Property Insurance will pay for the [specific] damages.

 

To learn more about property insurance, or home owners insurance in particular, you can check out Better Property Insurance. Aside from coastal homes, they also cover some areas in the Midwest and west coast. You can get a free quote from their website so you can compare rates with other insurance providers. You can set an appointment with one of their agents to orient or educate you more about the importance of home owners insurance. Of course you might say that it’s just all about “sales” and they will just try to talk you out, convince you to sign a policy and ask to pay the premium but that’s not really the case, considering the chance you can spare yourself from dealing with the “aftermath”.

 

Home owners insurance is all you need to make sure you can start whole over again. Without it, you will be back to square one and it will never be easy the 2nd time around unless you’ll be more careful and will consider all available options to protect your home.





Find More First Time Home Owner Articles





Working From Home – The Proven Guide!
Discover an Insider’s Secret Strategy For Working From Home And Generating a Great Full-Time Salary!
Working From Home – The Proven Guide!

August 26, 2011

New Home Owners: Prepare your Home for Winter

Filed under: First Time Home Owner — Tags: , , , — admin @ 3:37 pm
first time home owner
by National Library of Scotland


New Home Owners: Prepare your Home for Winter

Due to the government’s incentive tax credit to encourage more and more first time buyers into the housing market, a great number of owners are looking at spending their first winter in a house where they’re responsible for all the maintenance often for the very first time. If you’re one of these first time home owners who hasn’t yet had the pleasure of preparing your home for the winter weather yet, there are some basic supplies that’ll make your winter season a lot more pleasant to deal with when it comes around.

Well before the weather frosts up, it is a good idea to go out and buy your seasonal items that you might need for the winter months; once the cold weather kicks in many of these items sell out quickly once the first snow falls and people scramble to cope with it.

One of the most important wintertime purchases that you will need for your new residence is a good sturdy snow shovel; be sure to buy at least one good snow shovel for your home before it snows. Good snow shovels become very difficult to find once the landscape is covered in that frozen stuff.

]]>
Salt or ice-melt is another item that you’ll want to stock up on before the weather turns bad as well. Some ice melters have materials in them—like sand—that give you extra traction even if all the ice isn’t gone. Buy enough ice melter to last you the whole winter if you can; stores often don’t carry enough to last more than a few months into the winter, particularly if the weather is very poor. Store your salt or ice melt in a dry place until you need to open it; a plastic container in a covered area by your door is a handy place to keep some as well. Make sure that you include a plastic scoop to help you distribute the product over any areas that you have shovelled or have gotten slippery.

Sand isn’t totally necessary if you’re using an ice melt product, but it can come in handy to throw down on areas that are frozen; it can be particularly useful when used for traction for your car.

For the interior of your home, a decent wet/dry vac can be very handy in the wintertime. You can use a wet/dry vac to suck up spills, pools of melted snow, the overflow from your washing machine, or small floods in the basement. This is a great item to have all year round due to its versatility.

The last item is one that many people don’t think of as being something useful for the winter, a ladder. However, a ladder can be a lifesaver in the winter for many reasons: hanging holiday lights and removing excess snow or fallen branches from your roof. Make sure you get a good quality ladder for maximum safety.

Don’t be afraid to spend a little more to get good quality equipment for your winter supplies; good supplies are much more comfortable to use and will last you for years to come.





Home Schooling Guidebook
Are you thinking about Home Schooling your kids, but are not sure if you have what it take, or know what is really required of you? If so, read this book first! It will save you lots of time and headaches in researching all this information on your own.
Home Schooling Guidebook


VINTAGE CHINA CLOSET GOOD CONDITION GREAT FOR FIRST TIME HOME OWNERS

US $400.00
End Date: Saturday Mar-03-2012 12:23:14 PST
Buy It Now for only: US $400.00
Buy it now | Add to watch list
Bringing Baby Home: A New Owners Manual for First Time Parents, Laura Zahn, Good
US $1.00
End Date: Thursday Mar-15-2012 20:57:38 PDT
Buy It Now for only: US $1.00
Buy it now | Add to watch list

Older Posts »

Powered by WordPress
free three credit bureau report | mortgages home loan | get free fico credit score | free 3 credit report