TAX Credit

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 [...]

Important Item About $8,000 Tax Credit for VA Borrowers

by rob on January 26, 2010 · 1 comment

Remember if you go into contract by April 31st 2010 you get a $8,000 tax credit from the IRS.  This is really an amazing once in a lifetime type of deal.  You literally get a $8,000 check from the IRS.  And if you are VA eligible you can get a VA loan with 100% financing. [...]

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 [...]

Breaking Down the Tax Advantages to Buying a Home With a VA Loan

by rob on December 11, 2009 · 12 comments

Ever since the U.S. Government created the mortgage interest tax deduction for homeowners, the tax advantages to buying a home vs. renting has been a major financial benefit to buying a home.   VA loan eligible active military and veterans have a great advantage to access this tax advantage through their ability to get a VA loan with [...]

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 [...]

2009 Tax Credit to be Extended to April 30th 2010 and Expanded – Excellent News For VA Loan Home Buyers

by rob on October 28, 2009

No official announcement yet from the White House, but word is that that home buyer tax credit will be extended to April 30th 2010 and expanded to include some move-up home buyers.  The tax credit is one of those “once in a generation” type of windfalls that is a huge financial benefit for those buying a house.   In [...]