Posts Tagged ‘informed consumers’
New Website Outlines Tax Credit for Homebuyers
Enhanced Tax Credit Provides Outstanding Opportunity for Home Buyers
In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.
But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible.
Find out more here.
What’s your score?
Your credit score: did you know that you have to have a credit score of 700-plus to qualify for a low-rate mortgage?
First, your credit score is a number assigned to your creditworthiness.
Your credit score indicates how well or how poorly you’ll repay a debt. The higher the number, the more likely you’ll repay on time.
Your bill paying information on credit reports provides the basis for your credit score.
Consumers who take the time to obtain their credit score, for only about $15 under most circumstances, are more likely to have a better understanding of the scores.
That includes knowledge that mortgage lenders rely heavily upon credit scores to approve or reject home loan applications. (more…)