Archive for January, 2013

Do You Qualify as a New Orange County Home Buyer…?

Posted on January 25, 2013. Filed under: First Time Buyer help | Tags: deals for new homes, finance new home, first time home buyers program, home buyers, home buyers incentives, incentives for new home buyers, new home, new home buyer, new home buyers, new home buyers incentives |

Hello Home Buyers and most importantly New Home Buyers, if you have not owned property in the past 3 years you are eligible for this deal in only the County of Orange…

Orange County wants to offer a MORTGAGE CREDIT CERTIFICATE to all home buyers who have not owned property in the past 3 years. It is allowing everyone the opportunity to restart and get back into that home they were once in or into their very 1st home. The County is offering a tax credit of 15%  for the mortgage interest paid each year. It’s a dollar for dollar reduction against your federal tax liability. Credit is available for the life of the loan and can be re-issued if the loan is refinanced. Income limitation is about $111,600.00 annually for a family of two and purchase price limitation is about $665,000.00. For example if the borrower is paying  $1800.00 mortgage payment per month  and $1,200.00 of the payment is the interest he or she will receive $1,200.00X15%= $180.00 tax credit per month or about $2,160.00 per year. I am waiting to get the most up dated info from MCC for 2013, as soon as I receive the information I will forward it to you.

Information Provided by Abe Sedaghati. Check out this link for a chart Abe has provided us with similar details Financing Attachment Epreadsheet

Don’t hesitate to contact The Weeks Team with any other information regarding New Home Purchases.

The Weeks Team
1-877-230-3211
Angie@AskAngie.com

-BRB