First Time Homebuiyer's Tax Credit -CLOSING COSTS

The first-time homebuyer tax credit can be used to pay closing costs or an additional amount over the required 3.5% down on an FHA loan. HUD has strict guidance and regulations on this so you must contact your lender for direction as to how the loan from the tax credit would be repaid and when. Using the tax credit for this purpose is done through what is considered to be a bridge loan or personal loan. For more information on the $8,000 tax credit uses in Arizona, contact Andrew Walsh or Marie Zubkoff for our recommendation of lenders and to ultimately purchase your property here in the valley of the sun.

Is Mandatory Title Insurance too Costly?

Read the following article about title insurance in the Wall Street Journal written by James R. Hagerty http://online.wsj.com/article/SB10001424052970203739404574292542488539828.html. One of the reasons a real estate agent or builder may recommend or "prefer" to use a specific title agent is the same reason many buyer's and seller's choose to use the same real estate agent. Usually they have provided good service in the past and they have a familiarity and working history. Some title agents are better than others in service, and response. Many times a title agent assists in a real estate transaction by working with all parties to a negotiation in an unbiased fashion. In the event of some sales, a title agent may used throughout the process to prepare net sheets for a seller or a HUD-1 that may need to be presented to a bank for approval.