Income Tax Time Is Approaching Home Buying/Selling

Happy House Hunters

Buyers: Use your income tax as your down payment or to lower your debts. Be wise this year and own a piece of the Texas pie. Save a little, invest a little, and spend a little. Call me so I can put you in contact with a lender who can let you know what your buying power is. Did you know to buy a 100k home your down payment is only (3.5% of sales price)  $3500 with the FHA loan?

 You may qualify for programs that will pay your other cost associated with your loan then you would just need your downpayment,  a little more for closing cost, and money to MOVE.. Always, always have a nest egg to pay for a home inspection $375 and up, termite inspection $65 and up, appraisal of your future home $475-575, survey $400-500 depending on the size of the lot your future home is on. New home builders tend to absorb some of this cost for the buyer. There are loans that you may qualify for with no money down USDA (buying in a rural area) and if you served or is servingin the military (even spouses of deceased veterans if died in active duty)  $0 downpayment for you of course!

Check your credit report FREE at www.AnnualCreditReport.com to check for suspicious activity and your score. A desirable credit score is 640. Let's do it!

Sellers: Use a part of your income tax to pay an extra payment on the principal of your mortgage only to pay it down and pay your mortgage off quicker! or use it to do needed repairs or small updates Just a thought!

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