WAHomeowners.com

The Commission is pleased to announce the funding of House Key Plus ARCH downpayment assistance funds for borrowers purchasing in the Eastside Cities of King County.

Amount Available:  $800,000

Dates of Availability:
Loan reservations will be accepted for House Key Plus ARCH for borrowers at or below 80% of Area Median Income beginning 01/16/2013 in conjunction with a Home Advantage or House Key Opportunity first mortgage.  House Key Plus ARCH downpayment assistance funds offer up to $30,000 in downpayment assistance and have a reduced rate of 4% deferred interest with no monthly payments, subject to availability. Please see manual on our Website at http://www.wshfc.org/sf/downloads.html  for terms and conditions.  Further restrictions apply.

The Commission is pleased to announce the funding of Home Advantage Rebound downpayment assistance funds for borrowers using a Home Advantage first mortgage and purchasing bank owned, foreclosed or short sale homes statewide.

Amount Available:  $2,985,000

Dates of Availability:
Loan reservations will be accepted for Home Advantage Rebound for borrowers at or below $97,000 annual income beginning 01/16/2013 in conjunction with a Home Advantage first mortgage.  Home Advantage Rebound downpayment assistance funds offer up to $10,000 in downpayment assistance and have a 0% deferred interest rate with no monthly payments, subject to availability.  Please see manual on our Website at http://www.wshfc.org/sf/downloads.html  for terms and conditions.  A House Key Opportunity first mortgage is not allowed in conjunction with this program.  Further restrictions apply.

Section 13 manual updates are also available.

Please contact Karen Carlson Bunce at Karen.Carlson-Bunce@wshfc.org or 206-287-4413 with additional questions.

Purchasing a new home can be a daunting task. Worse, the idea of homeownership might seem out of reach to some families. Fortunately, there are means to make homeownership more reasonable, thus giving those with modest incomes a chance at the American Dream.

In certain areas of the United States, first-time home buyers can receive a tax credit designed to lessen the burden of a monthly mortgage. While the specifics can change from state to state, and even county to county, first-time homeowners may be able to participate in a Mortgage Credit Certificate program.

Source: http://www.movoto.com/blog/real-estate-tips/tax-savings-every-first-time-home-buyer-should-know/

What is a Mortgage Credit Certificate?

At its core, an MCC—as it’s commonly known—offers an income tax credit to first-time home buyers. Theoretically this frees up a household’s income to make mortgage payments. An MCC can save you up to $2,000 a year for the lifetime of your loan.

An MCC, however, can be complicated. To help digest the certificate program, Movoto Real Estate has broken down its pieces. With our state-by-state guide, you’ll be able to answer:

• What is a tax credit?
• How does a Mortgage Credit Certificate work?
• Who is eligible?

While not every area has an MCC program, many states have plans to help first-time home buyers through alternative means. We have included a discussion of one such plan, known as a Mortgage Revenue Bond Loan.
Read the full article here:  http://www.movoto.com/blog/real-estate-tips/tax-savings-every-first-time-home-buyer-should-know/

Houselogic’s John Riha gives you a chilling description of the different, spooky sounds and strange smells that can haunt your home.  Check out this article on how to identify and remedy haunting issues such as creaking and popping in the night, zombie odors, footsteps in the attic, burning smells, moaning and clattering sounds.   Read more at Houselogic.com.