Frost Mortgage » Tax Credits

Rates are even lower and tax credits may be extended

Greg Frost Jr. — Thu, 01 Jul 2010 21:08:02 +0000

It’s a busy week in the news for potential homebuyers.

First, both 15-year and 30-year loans hit record lows for the second week in a row.

Second, as Reuters reports, the tax credit extension has passed a key hurdle:

The House backed by a vote of 409-5 a measure to extend the closing deadline to September 30 for buyers who already met the April 30 deadline to have a signed contract. The current deadline requires those buyers to close the transaction by June 30 to receive the $8,000 tax credit for first-time homebuyers.

The measure must also go before the Senate for approval.

Rates are dropping and home sales are also down.

What this means is an exceptional window of opportunity for those looking for a new home. Please contact one of our loan officers today and allow us to help you find out what is available to you. We think you’ll be glad you did.

Home loans: Many leap without looking

Greg Frost Jr. — Thu, 29 Apr 2010 17:57:00 +0000

As buyers rush to take advantage of the homebuyer tax credit, an important fact is being highlighted: Moving too quickly can be costly. You may race to get the tax credit but end up losing more than that in a deal you haven’t fully thought through.

A survey on homebuying conducted by Zillow and reported on by the New Mexico Business Weekly found that

borrowers who obtained a home loan in the past five years spent just five hours reviewing their options and got just three quotes. Thirty-one percent spent two hours or less, despite the fact that a home is one of the largest investments people make in a lifetime …

If you’re feeling rushed or thinking you may not have all the information you need to make a smart choice, please contact one of our experienced loan officers for assistance. You’ll get sound, professional advice and information to help you make the best move, because at Frost Mortgage, we don’t just close loans, we open doors.

Military housing shows resilience

Greg Frost Jr. — Wed, 14 Apr 2010 15:56:38 +0000

Military housing (subscription required) has been dented by the economy, but not as badly as the civilian sector, National Mortgage News reports. Moody’s Investors Services downgraded nine of 23 housing developments at bases around the country, largely the result of declining credit ratings of surety providers.

The news highlights the fact that, if you’re in the service, now’s a great time to capitalize on some of the benefits. As we mentioned recently, for instance, the homebuyer tax credit is about to run out for most of us, but military personnel will have an extra year to take advantage of it.

If you’re an active-duty service member or a veteran, please contact us today. We’re long-time supporters of those who serve our nation, with expertise in Veterans Administration loans as well, and we would be proud to assist you as you look for funding for your next home.