Lenders Federal Tax Credit Information
Federal government programs may be the majority of 1st time homebuyer closings in 2009 according to CNN, ABC, CBS and other news sources that are announcing the Housing and Economic Stimulus Programs. Homebuyers are responding and want information and access to Down Payment/Financial Assistance Programs. American Housing provides mortgage companies and loan originators access to the Federal and State DPA programs that are stackable for the first time. AHP offers a Lender membership program, the program is explained in detail, click here to read and also here for more details of our services.
How does the program work for participating Loan Officers?
American Housing Programs provides mortgage originators with access to down payment/financial assistance programs in your market. Originators complete the Down Payment/Financial Assistance request form and or receive a Homebuyer Application that AHP shares with the originator. Based on the borrowers financial income, number of people in household, credit scores and where they want to live, American Housing provides you the program. Example, if a homebuyer wants to buy a home in the Dallas/Fort Worth metro area, there are a variety of options. Here are a few examples, If the home choice is in the suburb of Irving the DPA is $15,000. If the home choice is the City of Fort Worth the DPA is only $11,999. These down payment assistance programs can be used in combination with the Mortgage Credit Certificate program that provides the borrower up to $167 month for the life of the mortgage.
AHP provides you the HUD Application for your borrower and Homebuyer Education is a requirement and and administered by American Housing under an agreement with MGIC to provide the education and a certificate of completion. Below are the Tax Credit down payment assistance program links.
Down Payment/Financial Assistance Presentation Click Here!
$8,000 Federal Tax Credit Video Explanations Here!
$8,000 Federal Tax Credit Program Click Here!
$8,000 First Time Homebuyer Credit IRS Form Click Here!
$8,000 Federal Tax Credit Advance Example Click Here!
Mortgagee Letter 2009 -15 Click Here!
Mortgage Credit Certificate Program Example Click Here!
Mortgage Company/Originator Agreement to Participate Click Here!
If you would like to join one of our online seminars, please check the next available Seminar date by Clicking Here!
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