News You Can Use

Must be repaid over 15 years.  According to the IRS News Release of September 16, 2008.

First-time home buyers should begin planning now to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008.

The Credit applies to home purchases after April 8, 2008 and before July 1, 2009.  It reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar. It is fully refudable, meaning that the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax that they owe.

This credit operates much like an interest-free loan, because it must be repaid over a 15 year period. The maximum available credit is $7,500.

There are certain limitations, like price of the home, taxpayer's income etc.

For a full copy of the release you may e mail me at

lauraapont@aol.com or phone me at 813-451-0239

This IS the right time to BUY!!!

Laura Sanchez, P.A.

Realtor Associate

Now more than ever it is very important to be sure that your credit score is the highest it can be if you are looking to buy a home or refinance.

The Banks have done away with some of the Creating Financing that was so popular a few years ago and now they expect borrowers to be very disciplined as far as paying their bills on time and accounting for their earnings in order to get financing.  

The higher your credit score, the best interest rate you will get, not only on a home mortgage, but on car loans, credit cards, etc.

Let's take a look at some examples that can help to improve less than perfect credit scores.

If you have a credit score of 655 and a concentration of credit card debt on one card; let's say $15,000 on a card with an $18,000 limit.  At the same time, you have four or five additional credit cards, all with a zero balance.  I would advise you to distribute the balance over a number of your cards.  A borrower's credit to debt ratio represents 30% of their overall score.  By simply changing the ratio of available credit to debt,  in this example you could possible increase your credit score to something closer to 700, saving thousands of dollars on your mortgage.

It is also important not to close any existing credit card accounts, even if they are at a zero balance.  Some people think they are doing themselves a favor by having fewer cards, but they lose out on the credit history factor.  Even if you don't have a good rate on an old credit card, you are rewarded for having the long term credit history, and from time to time you should make a small purchase to keep the account in an active status.

These are just a few things you can do to improve your credit score when considering buying a home.

For more information on what else can be done to get the best rate when looking for a mortgage you can contact me at 813-451-0239

Laura Sanchez, P.A. G.R.I.

Realtor Associate

Markell & Associates Realtors

Just think, when we are looking for a new doctor, lawyer or accountant we usually look to friends or family members to recommend someone that they know and trust, many times we look to see if the doctor is in our insurance program.  When we are shopping for a mortgage it is important to compare one lender to another.  The most effective way to compare is by a personal visit to their office.  We must compare an apple to an apple.  What does this mean?  We must compare the same product, i.e. conventional 30 year fixed rate to a conventional 30 year fixed rate.  Not a conventional loan to an FHA loan or NOT a fixed rate to an adjustable rate mortgage.  Do they have credentials such as degrees, awards, certifications, memberships to organizations, etc..?  Are they willing to spend time with you to explain their products?  Can they provide you with references?  Are they willing to give you a "Good Faith Estimate"? These are the obvious questions.

My husband, Morgan Aponte and myself are licensed Mortgage Brokers as well as Real Estate Agents,  I Work exclusively Real Estate and Morgan has been helping clients refinance or get new mortgages for many years.  If you are looking for a new mortgage and would like to comparison Shop he will be glad to meet with you to see what is the best mortgage solution for you.  Just give him a call at 813-380-3277 or e mail him at morapont@msn.com.

If you would like a Free Mortgage Comparison Shopping Worksheet,  e mail me at lauraapont@aol.com or call me at 813-451-0239

Laura Sanchez, P.A. G.R.I.

You better believe it.  Every time I open the Sunday paper or check my e mails, I see many offers from builders that have brought their prices down or are getting creative as far as their incentives to get new Buyers to come in and look at their products and ultimately buy a new home.

With low interest rates and some of the incentives ranging from buying down your rate, paying Home Owners Association fees and or property taxes for a period of time, if you are in the market for a new home, this is the right time.

For a family that is not willing to wait for a pre-foreclosure to be approved by the bank or compete with other offers in order to get a great deal, buying new is a great option.

I just helped a couple of clients get into a great New Development in New Tampa, 2 and 3 bedroom townhomes with some upgrades and all appliances included starting in the low $100's.  Those homes a couple of years ago were selling in the mid  $100's to low $200's. And what is even better, the Builder is paying for some of the Buyer's closing cost.  Another advantage to buying new construction is that the homeowners insurance tends to be much lower. 

If you would like information on these or other new developments, call me at 813-451-0239 or send me an e mail at lauraapont @aol.com.  My services are free to the Buyers and you may even get a  better  deal by having a Realtor by your side.

Laura Sanchez, P.A.G.R.I.

Realtor Associate

If you would like information on our management services please call me at813-451-0239.

Laura Sanchez, P.A. G.R.I.

Certified Property Management Specialist

Realtor Associate