We know that behind every mortgage is a real person - not someone buying
a building, but someone buying a home where memories will be made.
That's why Securityplus FCU now offers FHA loans, whether this
is your first home or your fifth home, you can count on us to make your
home buying experience memorable.
Why Should I Consider a FHA Home Loan?
Take advantage of the many benefits and protections that only come with
a FHA loan.
· Easier to Qualify - Because the federal government insures the mortgage, through the FHA, the credit criteria for the borrower is not as strict.
· Low Down Payment - A FHA loan requires a 3.5% down payment,* and 100% of that money may be gifted.
· Closing Costs - 100% of closing costs may be gifted.
· Loan Limits - FHA loan limits vary based on a variety
of housing types and locations. Visit www.fha.com/lending_limits.cfm
to find loan limits in your area.
To learn more about FHA loans, for a personal consultation or to apply for a pre-qualification, contact Mortgage Loan Counselor, Toby Green, at toby.green@securityplusfcu.org or 410-281-6200 x4363.
The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit¹ of up to $8,000 for qualified² first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010.³
This act has also established a tax credit¹ of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010.³
Participating in the tax credit program is easy - simply claim the tax credit on your federal income tax return, no other applications or forms are required, however, you must meet income limits and home buyer standards to qualify.²
If you have specific questions regarding your unique situation, consult a qualified tax advisor or legal professional. You can also visit www.federalhousingtaxcredit.com for additional information.
¹The tax credit is equal to 10 percent of the
home's purchase price, up to a set maximum.
²Subject to income limitations; consult your tax advisor.
³In some cases, a home purchase completed by June 30, 2010 will qualify.
