Home Buyer

State of California Extends & Improves $10,000 Home Buyer Tax Credit – Great For First Time Home Buyers Looking to Get a VA Loan In California

by rob on March 24, 2010 · 4 comments

The state of California has extended and improved the $10,000 tax credit for home buyers in California.  The old tax credit used to only be for brand new built homes, now the tax credit includes ALL first time home buyers buying ANY type of primary residence, brand new or resale.   This is wonderful news those who first time home buyers [...]

“Serial Home Buyer” Strategy Perfect for Military Buyers Who Get a VA Loan

by rob on February 21, 2010

A number of years ago the IRS created the rule where if you occupy a house as your primary residence 2 out of the last 5 years, when you sell the house you pay NO taxes at all on the profits from the sale.   This rule is perfect for active military members to take advantage [...]

VA Loan Limits Change For 2010

by rob on December 19, 2009 · 5 comments

The VA has released the VA loan limits for 2010.  These limits are the loan amounts the VA will allow up to 100% financing to.  The limits are by county.  Below is a list of the counties in California and what their VA loan limits are for 2010.  The VA loan limits for the rest [...]

Some Debts That Do and Don’t Need to be Counted When Apply for a VA Loan

by rob on November 10, 2009 · 1 comment

There are some debt obligations that are often overlooked when you apply for a VA loan.  When I say debt obligations, I’m speaking of only the month payments that will be counted as debt in your qualifying ratios for VA loan.  More common items counted as debt are car payments, credit cards and student loans.  But [...]

New Update on The Extended $8,000 Home Buyer Tax Credit – Use Your VA Benefits to Qualify

by rob on November 2, 2009

I’d like to correct one of my earlier posts with more details emerging about the home buyer tax credit.  Details are below.   There are two new huge improvements to the credit I’d like to point out.   First, the income cap for all new home buyers qualifying has been raised for $125,000 for individuals and $225,000 for [...]