Basic Math 101:

Everyone has to pay for housing in one form or another. With today’s historically low home prices and interest rates, the cost to be in your own home may be less than the cost to rent. As an example, if you pay $1000 in rent, to your landlord you will have spent $12,000 after a full year. If you pay a monthly mortgage payment of $1000, you’ll have spent $12,000 to your future – and have realized a variety of tax breaks in the process. I can provide rent vs. buy flyers and examples that clearly illustrates this benefit.

Are you a first time homebuyer?

If so, you can write and ratify a contract as late as April 30th, 2010 and still realize up to an $8000 tax credit provided the transaction closes no later than June 30th.* Remember the amount of the actual tax credit is contingent on whether filing singly or jointly, and that there are income and other limitations. 

Are you moving up to a larger property?

If you have lived in your primary residence for no less than five out of the past eight years, you may be eligible for a tax credit of $6500.*  As with the first time homebuyer credit, the same deadlines and income etc. guidelines apply. 

Buyers are requiring more time from their Realtors before they make a decision with whom to work. As Walter Sanford noted in Broker Agent News, “The public is seeking experienced and successful real estate agents who know how to cope and be successful in a more normal market.” I can introduce you to a Realtor that will help you understand the transaction, work diligently to help you secure your home, along with being easy and fun to partner with.

In addition, there’s no need for you to become a mortgage expert yourself. When you work with Coldwell Banker Mortgage we take care of providing experienced personalized service to help you with every aspect of home financing. This lets you focus more time on finding your perfect home!

If you have any questions about this, or would like to discuss your mortgage options, please contact Marianne Lane at Coldwell Banker Mortgage.