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What you may want to know before searching for a New Home

Get Prequalified or Preapproved !

Why not take the next step and get pre-qualified and pre-approved for a home mortgage loan?
Not only will you know your housing budget to the dollar before you start looking for a home, you'll also have more negotiating leverage because the seller knows you've already got a loan virtually in your pocket.
Pre-qualification
Pre-qualification acts as a dry run of the loan application process. We will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most.
While a "pre-qual" is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness.
Pre-approval
Pre-approval takes pre-qualification one step further. We will contact your employer, your bank and others to verify your income, assets, debts and credit history, and then issue you a letter stating that your mortgage is approved for a certain amount within a certain timeframe. You may be charged a small fee to cover the cost of your credit reports and your application, often refunded at closing.
Gain the buying edge
The advantages of pre-qualification and pre-approval are two-fold: you're more attractive to sellers, who needn't worry that they'll accept your offer only to have your loan turned down, and you'll save time to closing when you find a home because the len

8,000 Tax Credit

Take advantage of up to $8,000 in tax credit for 1st time home buyers

If you are a first-time homebuyer or know someone who is, learn how you can get up to an $8,000 federal tax credit when you purchase any single-family home between January 1, 2009 and November 30, 2009. The outstanding selection of available homes and attractive interest rates make this a great time to buy your first home.
Highlights of the First-Time Homebuyer Tax Credit:
Buyers would receive a refundable tax credit of up to $8,000 on their income tax return in the year following the closing.
 First-time homebuyers and those who have not owned a primary home in the last three years are eligible.
 The credit is retroactive and can be claimed on an individual or joint tax return for the purchase of any single-family home between January 1, 2009 and November 30, 2009.

The credit is claimed on a tax return to reduce the purchaser’s tax liability. Any credit amount unused will be refunded to the purchaser.
This is a wonderful opportunity for anyone who is thinking of buying their first home.


Go to my online Loan Application at Meridian Financial

The Art of the Deal: Buying a Home in a Buyer's Market

When is the best time to buy a house? With many markets reporting an abundance of homes for sale, and interest rates remaining at near historic lows, now might be one of the best times in recent memory. While today's real estate market does offer advantages to buyers, consumers still need to be savvy in order to get the best deal they can.

Following are some valuable home buying information that the professionals at Prudential Florida Realty think every homebuyer should keep in mind:

 

Don't Try to Time the Market. When home prices are lower, it is very tempting for potential buyers to try to wait as long as possible in the hopes that prices will decline even further. This strategy can be detrimental because when there is high inventory, smart sellers price their homes properly – not according to past sales but according to current conditions – so their homes will sell in a timely fashion. Once a home is priced to what the current market will bear, buyers will make offers.

 

Shop Around. But Don't Wait Too Long. The National Association of REALTORS reports that homes are staying on the market for several months. Recent increased inventory gives homebuyers a great opportunity to compare homes that meet their needs. However, this does not mean that homebuyers should procrastinate. If you find a house you love, put in your bid and negotiate. Don't provide an opportunity for another buyer to make an offer.