First Time Homebuyer Tax Credit

A new client contacted me this week and asked--"Are you an approved lender for the $8,000 first time home buyer tax credit?" Interesting question. The fact of the matter is, the mortgage professional you work with does not make a difference in qualifying for the credit! But, working with a true mortgage professional (rather than a "mortgage guy") will make a difference in how the whole process goes for you!

The next few posts here will help you choose the right mortgage professional. Today's tip:

Ask the following question: What are mortgage interest rates based on?

The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them move in completely opposite directions. DO NOT work with a lender who has their eyes on the wrong indicators!

I Love These!

Here's an e-mail I just received from a client of mine. I helped them buy their home and have since refinanced them as rates dropped, effectively cutting more than FIVE YEARS off of the the payoff schedule for their loan!


Peter,
It is has been a pleasure working with you on our three transactions. You are thorough and easy to work with. We have no problem recommending your services to friends and family.
Take care,
Peter and Karina