Even in today’s tighter credit markets, there are programs available that assist home-buyers in obtaining mortgages with low down payment requirements. FHA loans are issued by lenders, but
Posts under ‘Government Housing Programs’
FHA Loan Programs and Limits
Naperville Condo and Townhome Market Report
Market Stats Report on Condos and Townhomes in Naperville. This will be following the same format as the monthly single family homes report but will focus on this segment of the market. Industry news in recent weeks has included the expansion and extension of the Home Buyer’s Tax Credit
Housing Tax Credit Extension and Expansion one step nearer
HR3548 contains a trio of measures that extend unemployment benefits, extends and expands the housing tax credit, and thirdly allows for recovery of previously paid taxes for companies losing money in 2008 and 2009.
As of Weds evening both Houses had passed versions of the bill that contained similar provisions:
Home Buyer Tax Credit Extension Update
First of all, the credit has not been extended yet despite all the rumors floating around. Here is the latest information from Washington as well as a projected timeline for further action from www.FixHousingFirst.com: From TheHill.com “…
Naperville Representative Biggert Pushes to Extend Homebuyer Tax Credit
More of DC is jumping on the bandwagon to pass legislation to extend the tax credit. Here is Representative Judy Biggert’s press release detailing her efforts.
Homebuyer Tax Credit Extension?
How effective has the $8,000 1st time home buyer’s tax credit been? According to the National Association of Realtors, (NAR), in Illinois, the home buyer tax credit has brought in an additional 9,100 buyers into the market and 73,200 1st time buyers by year’s end. That is a huge impact! I recently wrote to the folks in Washington trying to get their stance on possibly extending the credit.
Naperville – tax credit time running out
According to current regulations, eligible homeowners who want to take advantage of the up to $8,000 federal tax credit must close their transactions by November 30, 2009. That is about 70 days from now. Or is it……..?
Illinois Home Start Loan Program can help Naperville buyers
Naperville area first time home buyers, the State of Illinois has come up with a program to allow you to use the Federal Tax Credit monies as a zero interest loan to cover a portion of your down payment.
Update to Tax credit as downpayment approved by HUD for Naperville home buyers
The following paragraph is excerpted from an Illinois Association of Realtors bulletin published June 2, 2009. It addresses what is being done in light of the lack public funded programs in Illinois. FHA approved lenders may come off the sidelines in the near future but for now, they are still examining and evaluating the program.
Naperville home buyers – Tax credit as downpayment approved by HUD
Ok folks, the word is out again. HUD Secretary, Shaun Donovan, announced that homebuyer’s will be allowed to apply the $8,000 tax credit towards the purchase cost of a FHA-insured home. The concept was first announced several weeks ago at the NAR mid year convention in DC but was quickly retracted while additional details were worked out.
