Dec
1
Written by:
host
Monday, December 01, 2008 2:37 PM
Yes, even in this economy, more specifically this real estate market, 
it is STILL possible to buy a house with no money down. We had 2 closings last week. One buyer used the Rural Housing program to obtain a 100% loan with an interest rate of less than 5.4%. The builder paid her closing costs, so she didn’t have to bring money to closing. In fact, she actually got money BACK at closing! Just in case you’re wondering about the Rural Housing program, no, she doesn’t live in the country or deep rural area.
The other buyer purchased a property using a 15-year loan with an interest rate of 5.5%.
We wanted to pass this information along as encouragement to buyers who may be sitting on the fence about buying a home. Let us help you. If you would like more information about the Rural Housing program for yourself or for someone else, call us today.
Also, both of these buyers will receive a $7,500 tax credit on their 2008 taxes because they are first time buyers. Here’s an example of how this works. Suppose they usually get a $1,000 tax return. Well, this time, it will be $8,500. They can take that money and invest it to make more. Then for the next 15 years, they will give a $500 tax payment to the IRS. So instead of receiving the $1,000 tax return for the next 15 years, it will be $500. Sounds like a good deal to us!
Remember we’re here to help. You have 3 resources available to you, Randy, Sherlonda and Rita Adkins; use them wisely.