By Ann Allison February 10, 2010
Everyone we have dealt with has been more than accommodating and helpful. Service is excellent. ...read more
By Lisa M. at Judy'sBook August 19, 2005
Beautiful selections! They have everything from classic to trendy chic. All price ranges.The staff literally bend over backwards to fulfill every need and desire.This is the place every bride should experience ...read more
By Tracy W. at Judy'sBook July 21, 2005
This shop has it all. The staff is phenomenal. The selection is to die for. They have all the latest designs from popular designers. The prices are FANTASTIC, and the package deals...well you can't go wrong! I think the "free" things t... ...read more
The definition of "first-time home buyer" for the purposes of this credit is anyone who hasn't owned a primary residence at anytime during the 3 years prior to the date of purchase. This means if a buyer purchases a home on April 1, 2010, they will not qualify for the $8000 credit if they owned or had ownership interest in a home anytime from April 1, 2007 through the date of the purchase agreement. But, they could have owned a home prior to April 2007 and still qualify as a "first-time home buyer." Married joint filers must both meet the first-time home buyer criteria to claim the credit on a joint return. The definition of "repeat home buyer" for the purposes of this credit is anyone who has owned the same primary residence for 5 consecutive years during the previous 8 years before purchasing the new residence. This means if a buyer purchases a home on April 1, 2010, they will qualify for the $6500 credit if they owned or had ownership interest in a single primary residence for 5 consecutive years from April 1, 2002 through the date of the purchase agreement. If the purchaser owned a home during that period, but for less than 5 consecutive years, they will not qualify for a credit. The law requires that the home be the "primary residence" meaning you spend 50% or more of your time there. It can be a condo, single-family detached, co-op, townhouse or something similar. Vacation homes and rental properties are not eligible. If the home is new construction, the "purchase date" is the date you occupy the home. The new credit is an $8000/$6500 refundable tax credit meaning that if your total tax liability in the given year is less than your eligible credit amount, the IRS will send a refund for the balance. There are a few restrictions on who can take the credit. If any of the following scenarios apply, you may not qualify for the credit: Your income exceeds $125,000 as a single person or $225,000 as a married couple filing jointly. There is a $20,000 phaseout range up to $145,000/$245,000 that allows for a partial credit based on a calculation explained below. You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild. You stop using your home as your primary residence. You sell your home before the end of three years You are a nonresident alien. Now to explain the phase-out range. For single filers, the phase-out starts at $125,000 and for married filers it begins at $225,000. This means that for singles making over $125,000 and couples making over $225,000, the credit is proportionately reduced as incomes approach the $145,000/$245,000 respective limits. So if a couple's joint MAGI is $140,000, they would be $15,000 over the full credit limit. $15,000 is 75% of the $20,000 phase-out range, so 75% (or $6,000) of the $8,000 credit would be disallowed and the couple would receive a $2,000 credit. A few notes about filing for the credit… If you qualify, you can claim the tax credit on your 2009 income tax return (to be filed by April 15, 2010). If you have already filed, you can amend your 2009 return via the appropriate paperwork, or you can wait and claim the credit on your 2010 income tax return. You are allowed to decide which year you will claim the credit based on your income. For example, if your 2008 MAGI exceeds the income limits or enters the phase out range and you believe your 2010 income will be less (so that you would qualify for more of the credit), you can wait to claim the credit on your 2010 income tax return. Of course there are even more provisions to this federal tax credit than are explained in this flyer. If a buyer takes the tax credit and then sells the home prior to the end of three years of ownership, the tax credit must be repaid. This is to prevent flipping homes in order to get the credit. We strongly recommend that you discuss your personal tax situation with your tax advisor. In Florida I recomend Service Business Solutions PLLC in Naples.www.servicebusinesssolutions.com.I WILL FILE EITHER YOUR AMENDED OR 5405 FORM SO YOU CAN GET YOUR TAXES PREPARED AND GET YOUR $ 8000.00 CREDIT FILED FOR FREE! America Home Key Inc Florida 2059 Trade Center Way . Naples Fl 34109 Telephone (239) 580-9977 Fax (239) 596-0507www.americahomekeyfl.com ...read more
By PREMIER MORTGAGE STORE February 18, 2010
Why might you need an appraisal? How do appraisals work? In many cases, lenders need a professional, independent appraisal of the property you want to buy or refinance to ensure that it is worth at least as much as they are being asked to lend on it. If you are making a smaller down payment and have a lower credit score, the lender is going to be even more interested in making sure the property that will be collateral for the loan is worth lending the amount requested. A professional, independent appraiser will usually visit your home and inspect its interior and exterior. The appraiser doesn't want to buy your home, and isn't a visiting head of state. So whatever you do, do not postpone the appraisal until you get a chance to "clean up a little." Cleaning does not make your appraised value higher! And delaying adds time to an already lengthy process. The appraiser will form an opinion on the probable market value of the property considering sales of similar homes in the area among other factors. He or she will prepare an appraisal report explaining the conclusion. The appraisal belongs to the lender considering lending money with the home as collateral. Often, you can receive a copy of the appraisal either as a courtesy or in keeping with state law. Let us know you're interested and we'll help. The lender wants to know first of all whether the property is worth at least as much as the loan amount. In the unlikely event the lender would have to foreclose, it wants to know it should be able to recoup at least the loan amount. But if your loan program depends on you borrowing, for example, 95 percent of the property's value and no more, the appraisal can impact your eligibility for the loan that's right for you. In a "close" case like that, the best solution is almost always to increase your down payment, or we can help find another solution such as another loan program that works. An appraisal can cost from $200 to $500 or more for very complex properties. You as the borrower repay the lender for its cost in paying the appraisal fee upon settlement of the loan.For more information please visitwww.americahomekeyflorida.com ...read more
By PREMIER MORTGAGE STORE February 18, 2010
Debt to Income Ratio Your debt to income ratio is simply a way of determining how much money is available for your monthly mortgage payment after all your other recurring debt obligations are met. Debt limit There is generally a debt limit associated with each type of loan, such as a 28/36 qualifying ratio for a conventional loan.These qualifying ratios are guidelines.An excellent credit history can help you qualify for a mortgage loan even if your debt load is over and above the limit. Understanding the qualifying ratio Typically conventional loans have a qualifying ratio of 28/36. Usually an FHA loan will allow for a higher debt load, reflected in a higher (29/41) qualifying ratio. The first number in a qualifying ratio is the maximum percentage of your gross monthly income that can be applied to housing (including loan principal and interest, private mortgage insurance, hazard insurance, property taxes and homeowner's association dues). The second number is the maximum percentage of your gross monthly income that can be applied to housing expenses and recurring debt. Recurring debt includes things like car loans, child support and monthly credit card payments. For example: With a 28/36 qualifying ratio: Gross monthly income of $3,500 x .28 = $980 can be applied to housing Gross monthly income of $3,500 x .36 = $1,260 can be applied to recurring debt plus housing expenses With a 29/41 qualifying ratio: Gross monthly income of $3,500 x .29 = $1,015 can be applied to housing Gross monthly income of $3,500 x .41 = $1,435 can be applied to recurring debt plus housing expenses Simply guidelines Remember these are just guidelines. We'd be happy to pre-qualify you to determine how large a mortgage loan you can afford. We look forward to helping you buy your dream home. Wondering if you will qualify?Have more questions? visit our website atwww.americahomekeyflorida.com ...read more
By PREMIER MORTGAGE STORE February 18, 2010
When the economy tanked in the early 2000s most people began to worry about the state of their bank's health. At the present time, however, banks are beginning to stabilize and hire more workers as they iron out the remaining wrinkles in their business. Those interested in banking should have a wide r... ...read more
Banks and credit unions have been in the news a lot lately for many reasons. This has led many people to wonder if there are any difference between a bank and a credit union and have started to compare banks with credit unions. The two has similarities, but then they also have many differences as well... ...read more