$8,000 Home Buyer Tax Credit

By Anthony Longo 1 04 2009

Do you qualify for the $8,000 First time Home Buyer Tax Credit?  Below are some basic guidelines to let you know if you qualify for the $8,000 First time Home Buyer Tax Credit.  We wrote more about it in an earlier blog post, but if you have any questions - please be sure to reach out to us.

  • The 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.

Also - please feel free to call Jack Staley from CondoLoanCenter about the tax credit.



Hammondswood At Chestnut Hill Giving Away Mortgage Rates!!!

By Anthony Longo 18 03 2009

Hammondswood At Chestnut Hill is having a huge 3 day event and is basically giving away “FREE MONEY”.

For 3 days and 3 days only Hammondswood is offering 30 year fixed rate mortgages for 3.875% !!! I have never ever seen rate this low - EVER.  Jessica and I have toured the property many times and do like what they offer.  Our pricing on our website is a tad outdated…I believe the prices have dropped a bit and units start in the $400’s now!

Hammondswood is a new condominium development located in Chestnut Hill right off Rt. 9.  Its close to Boston and offers spacious units.  If you are interested in Hammondswood at all, call us so we can take you there and lock in your 3.875% interest rate!!!

More Details: Hammondswood | Boston Condos | Hammondswood Blogs



New FHA Loan Limits & The Condo Loan Center

By Erica Farthing 18 03 2009

Good news for FHA loans! As of last week, there are new maximum loan limits that are available due to the American Recovery & Reinvestment Act. These new loan limits are for new and existing loan applications that are submitted with credit approval on or after March 12, 2009.

Here is a list of the 2009 FHA Maximum Mortgage Limits*:

$729,750 for one-unit properties
$934,200 for two-unit properties
$1,129,250 for three-unit properties
$1,403,400 for four-unit properties

These new limits open up the possibilities for many new buyers! Now lenders can go as high as a $729,750 loan amount with only 3.5% down! So if you are in the market to buy and have previously been unable to put 10-20%  down, this is excellent news!

Contact Christina Longo immediately for more information at 978.886.9359

View the all-new Condo Loan Center to learn more information. The Condo Loan Center offers everything from first-time homebuyer programs with down payment assistance, to private mortgage banking with unlimited loan amounts. In addition, the Condo Loan Center has the ability to act as a broker gives clients even more loan programs. Through the Condo Loan Center, you can rest assured that you will be provided with a competitive loan that meets your individual needs.

A complete schedule of FHA’s maximum county mortgage limits can be viewed through the HUD website by clicking here
*the list excludes financed UFMIP or EEM cost



Super Savings with First Time Homebuyer Tax Credit

By Erica Farthing 26 02 2009

There has been a lot of confusion lately when it comes to the tax credit that is now available to first time homebuyers. I posted an article about this a few weeks ago, discussing the $7,500 tax credit…and now things have changed a little bit.

Here’s what we are working with now and the differences from the previous first-time home buyer tax credit incentive:

The maximum credit amount has increased from $7,500 to $8,000 effective for  purchases on or after January 1, 2009 and before December 1, 2009.

While previously there was no credit allowed if the home was financed with state/local bond funding, now it has changed that purchasers who utilize revenue bond financing can use the credit.

The last credit program called for a portion of the credit to be repaid each year for 15 years, starting in 2010. With the new changes, there is no repayment on purchases on or after January 1, 2009 and before December 1, 2009.

The new recapture feature stipulates that if the home is sold within three years of purchase, the entire amount of credit is recaptured on sale. This applies only when the home is purchased in 2009.

All of these revisions are effective as of January 1, 2009.

If you would like to learn more information on this modified first-time homebuyer tax credit, Contact Christina Longo today!



CondoDomain Whitepaper: Year 1

By Erica Farthing 22 01 2009

Putting this Whitepaper together was almost as exciting as engaging in the real estate brokerage community this year.  For all of you who have followed us through social media and our blogging efforts… and for all of you who have met us or become a client of ours: you all know we like to have fun along the way!

Well, while all of that fun that is publicly displayed, there is actually quite a bit of work that went on behind the scenes.  I believe that this CondoDomain Year 1 Review reveals our true colors.

What will you find in this report?

i. Transactional Data / Commission Refunds
ii. Negotiation Advantage
iii. Demographics
iv. Customer Satisfaction
v. Why CondoDomain
vi. 2009 Corporate Forecast

condodomain-download

Heck, its short enough….check it out.

Like Redfin’s similar real estate annual reviews, Ill let the statistics do the talking.

Congratulations to all of our team members here at CondoDomain for an outstanding 2008 and congratulations to all of our new clients and friends of the firm.

2009 is set to be an even bigger year.

DOWNLOAD THE 2008 ANNUAL REPORT



Market Tank Sinks Interest Rates Even Lower!!!

By Anthony Longo 2 12 2008

Whether you are in the middle of a purchase or need to refinance - contact your mortgage loan officer ASAP!

Christina Longo our preferred lender to all CondoDomain clients quoted today:

30 year fixed at 5.25% 0 points!!!!!!!

or

30 year fixed at 5.50% 0 points and 0 closing costs!!!!

Call Christina @ 978-886-9359



Great Rates

By Jessica Quirk 11 09 2008

Buyers- Check this out!

According to the Washington Post this week, Mortgage brokers say that this past Monday was the busiest day they can remember in the last couple of years.

Take a peek at what clients can be offered today! Mortgage rates are in the downward direction again and we couldn’t be more thrilled!

Some of today’s rates…

*30 year fixed 5.625%, 5.875% with no closing costs!

*15 year fixed 5.375%, 5.50% with no closing costs!

*5/1 Arm 5.625%, 5.875% with no closing costs!

Contact Christina Longo today for any questions! She is ALWAYS happy to help!



Zillow Mortgage Marketplace

By Anthony Longo 3 04 2008

Zillow Mortgage Marketplace

Rich Barton, CEO of Zillow.com has launched what I have expected since inception - a mortgage platform. I have not got a chance to dig-in yet and check out the structure of how this works…but from the surface it looks similar to a LendingTree, but at a Loan Officer level instead of a corporate level.

I definitly see this to be a source to reckon with. The mortgage industry has been waiting for a major player to come down and transform the extreme inefficiencies that current retail and wholesale lending has. As much as we love our preferred lender, and they truely are special to us and our clients, the Zillow Marketplace may be able to scale and offer lower interest rates…we will see. We like the Zillow guys and will test this system shortly…but anyone else who dives in and applies through the Zillow Mortgage Marketplace…please let us know how it goes. We are very curious.

Read more on Zillow Blog



Mortgage Jerk

By Anthony Longo 15 02 2008

option arm mortgage

Believe it or not this is a real picture (no photoshop here) although it would be just as funny. I saw this reading one of our favorite mortgage blogs - BlownMortgage. Must have been a Countrywide guy! Thought it would be a great post for sunny Friday!

On a serious note, rate are still way down. Contact our preferred lender Christina Longo of IndyMac Bank here in Boston for more information or visit our Boston Mortgage page.



Rates Are Down Big: Finance Your Boston Condo

By Anthony Longo 20 01 2008

Mortgage Boston Condo

Market has certainly picked up the last 2 weeks with tons of open house activity and rates continue to fall. I would say we are off to a nice little start in 2008!

We were off flying around this week with over 25 appointments and private tours with our clients. From full service condo buildings like 285 Columbus, D4, Northpoint, FP3 Boston to some re-sale listings over at 717 Atlantic and a short sale over at 197 Bunker Hill Street in Charlestown.

To top off all this exciting news I got a call from Christina Longo (full disclosure: my sister!) who is a Mortgage Consultant over in the Back Bay for Indy Mac Bank. and she noted that rates had dropped even more this week.

She noted the 30 year fixed and the 5/1 ARM had dropped again!

30 year fixed was 5.625%

5/1 was 5.125%

Give Christina a call or shoot her an email if your looking for a free pre-approval or rate quote before you head out to open-houses today.

Christina Longo :::: 978-886-9359 :::: clongo@imb.com

Visit our Financing Center Online





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