How a Mortgage Credit Certificate Gives an Annual Homeowner Tax Credit
Team Move Mortgage
by Russell Smith
2y ago
First time home buyers look for every possible break when buying a home. These areas include lower interest rates, less closing costs, reduced monthly payment, and down payment assistance. Also, there is a little known tool which helps a first time home buyer or military Veteran more easily qualify for a mortgage as well as lower income taxes. It is called a mortgage credit certificate (MCC). So, buyers need to ask about it. What is a Mortgage Credit Certificate? An MCC or mortgage credit certificate offers qualifying homeowners a dollar for dollar tax credit on their federal tax returns. Qual ..read more
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USDA Income Limits 2020 Help More Buy With No Down Payment
Team Move Mortgage
by Russell Smith
2y ago
USDA income limits 2020 increase allows more home buyers purchase a home with no down payment. Effective May 2020 through April 30, 2021, USDA guaranteed housing base income limits are as follows: $90,300 for 1 – 4 person households and a whopping $119,200 for 5 or more person households. Guys, that is not low income! So, we are talking about a majority of American households meeting this income limit. Therefore, first time buyers or repeat buyers have the ability to use an amazing product to purchase a home without down payment. USDA Makes It Easier to Buy a Home – Higher Income Limits USDA ..read more
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VA Refinance of Rental Property to Increase Cash Flow
Team Move Mortgage
by Russell Smith
2y ago
Buying a home with a no money down VA loan is reserved just for a primary residence. But, did you know that a VA loan rental property streamline refinance is possible? It sure is! Not all Veteran homeowners decide to sell their home when buying another. Instead, some choose to rent out the property. Actually, it is allowed for homeowners to keep the existing VA loan even though the Veteran moves out. Increase cash flow by refinancing your VA interest rate on rental properties VA Loan Rental Property Streamline Refinance Many are aware of the VA IRRRL which stands for a VA Interest Rate Reducti ..read more
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Veteran Down Payment Assistance Gives Buyers Advantages
Team Move Mortgage
by Russell Smith
2y ago
VA loans already offer a no money down payment purchase loan. But, what if we add Veteran down payment assistance of $7,500 – $10,000? Even though VA loans may allow no down payment, there are many uses for this Veterans mortgage assistance. Plus, it is available for buyers currently serving or has served in any branch of the U.S. military, their spouse, or surviving spouse. Furthermore, these funds are available for our qualifying buyers nationwide. Although, the assistance may expire as we have $1,000,000 available annually. Veteran Mortgage Assistance makes home ownership easier Veterans Mo ..read more
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VA Seller Paid Closing Cost & Seller Concession Strategies Explained
Team Move Mortgage
by Russell Smith
2y ago
Most know that VA loans are great for buying a home with no down payment and has flexible guidelines. Plus many realize that VA eligible buyers can finance closing costs. Although, this is not automatic and is often misunderstood. Usually, including these costs is accomplished through VA seller paid closing costs and VA loan seller concession rules. Not only buyers need to understand this. Also sellers, Realtors, and builders need to know these amazing VA rules. In this article, we fully explain how traditional closing costs, the VA funding fee, and other items may be covered by the seller or ..read more
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Does VA Loan on Manufactured Homes with a Permanent Foundation
Team Move Mortgage
by Russell Smith
2y ago
Housing prices continue to rise, so purchasing a home as a low to middle income buyer can be difficult. Fortunately, manufactured homes provide affordability to today’s buyers. Therefore, service members, military Veterans, and surviving spouses want to know – Does VA loan on manufactured homes? When it comes to qualifying for a purchase or refinance, the property must meet the VA loan manufactured home permanent foundation requirements. Certainly, an area of confusion for many revolves around many popular manufactured questions. So, let’s dig into the answers and make a no money down manufact ..read more
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Can You Buy a Horse Farm With a VA Loan?
Team Move Mortgage
by Russell Smith
2y ago
These days, many buyers are looking for a home with a lot of land. Additionally, some buyers are looking to buy a horse farm for sale. What many don’t realize is that you can buy a horse farm with a VA loan! This is especially important for areas like Moore County NC which is horse farm country. Furthermore, the area has a high military and Veteran population. So, VA eligible buyers that are looking to purchase a home with excess acreage plus house their horses, a VA loan is tough to beat. Potentially, no down payment, no monthly mortgage insurance that lowers the payment, and flexible guideli ..read more
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Buying a Multifamily Home with VA, FHA, and Fannie Mae Low Down Payment Loans
Team Move Mortgage
by Russell Smith
2y ago
A very popular way to build wealth is through buying rental property. Although, significant funds may be required. Because of this, building a portfolio of rental properties could take a while. Yet, buying a multifamily home can be a beautiful thing and a quicker path to being the landlord. For instance, did you know that it is possible to purchase a 2 – 4 unit dwelling (dupex, triplex, quadruplex) as a primary residence? Therefore, a buyer may combine rental income benefits with primary residence loan advantages such as lower down payment and interest rates. Thus, many want to know the best w ..read more
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How to Buy a House With the Payment You Want – Change Your Thinking
Team Move Mortgage
by Russell Smith
2y ago
Let’s be honest, looking for homes is a lot more interesting than getting the mortgage. Window shopping online and touring houses is exciting, while getting qualified for and choosing the home loan not so much. So, it is only natural when buyers house shop first. But, this can actually lead down the path of a letdown to a buyer’s mortgage payment budget. To prevent this letdown, let us show how to buy a house with the payment you want. Basically, this starts with reversing the buyer’s thought process from find the home first and then get the mortgage next. Therefore, we explain the biggest fac ..read more
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Use Your Tax Refund to Buy a Home – Tax Season is Best Time to Buy a House!
Team Move Mortgage
by Russell Smith
2y ago
During tax season, low to middle income families have more money than any other time of the year. Therefore, tax season is the best time to buy a house. So, let’s show you how to use your tax refund to buy a home. Not only can a tax refund be used as down payment, but it may also help a buyer actually qualify. With the right strategy, federal and state refunds can improve credit scores, asset reserves, or paying off debt. These funds help buyers create compensating factors to make homeownership more of a reality. Tips to use a tax refund to become a homeowner Best Time to Buy a House Many arti ..read more
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