How do the Old $7,500 and New $8,000 Differ??

The link above explains it great in side-by-side fashion.

Interest Rates at Historical Lows

Interest rates are the lowest since they have been tracked in 1971!!! With all the impending price increases, inflation will put ALOT of upward pressure on interest rates.

Columbus Housing Market Ranked Amongst Most Stable!!

PMI Mortgage Insurance Company, who understands housing risk as well as anyone, has ranked Columbus Ohio Metropolitan Area as one of the most stable in the country. They traditionally insured conventional mortgages with less than 20% equity. See page 6 of the attached report.

Federal Tax Credit (Refund) Form

Here is the form for the tax credit. Amazingly simple!!!! Uncle Sam WANTS people to buy homes and take the money. Once in a lifetime opportunity!!

Rent or Own???

On a $200,000 home, your annual tax savings can exceed $2,500!!! This is achieved by Itemizing your Deductions. A renter almost always uses the Standard Deduction. Itemizing allows you to deduct interest, real estate taxes, mortgage insurance premiums, Ohio and city income taxes, Ohio sales tax, charitable contributions and other items. Your mortgage payment is normally fixed - your real estate taxes may change a little but normally not ver much. Rent goes up - normally every year. You eventually own your home. A larger portion of your principal and interest payment goes towards the loan balance every month!!

Get Tax Refunds $8,000 Within the Month

The compromise Stimulus Bill:

• $8,000 tax credit does not have to be repaid, unlike the tax credit passed last summer
• Keeps the tax credit refundable, or claimable regardless of tax liability
• Extends the date from July 1, 2009 until Dec. 1, 2009 - PLENTY OF TIME TO BUILD A NEW HOME!!!
• Allows tax credit home buyers to participate in the mortgage revenue bond program
• Permits state housing finance agencies to help buyers at closing by advancing the credit amount as a loan using tax-exempt bond proceeds