HLM Mortgage Blog

Housing Market Gets Help Just Under The Wire!

With the previous Homebuyer Tax Credit Program (for first time homebuyers) set to expire on 11/30/2009, Congress has extended the expiration date to homes with a contract date on or before 04/30/2010 (must close by 06/30/2010).

Additionally, Congress had expanded the program to include allow for existing homeowners to participate in the program if they close on a home between 11/6/2009 and 6/30/2010.  Existing first time homebuyers must have owned a home for 5 consecutive years (out of the last 8) prior to the home purchase. 

There are some limitations on the program, so we recommend that you visit  http://www.irs.gov/newsroom/article/0,,id=204671,00.html or consult your CPA for full details. 

Basically, first time homebuyers may qualify for up to $8,000 and existing homeowners may qualify for up to $6,500.  This is expected to help increase activity in the sluggish housing market. 

HLM Mortgage Company has a team of professionals ready to help you explore financing alternatives.

HLM has recently partnered with a lender who offers 'outside the box' thinking!

HLM now has access to a lender who will allow you to refinance your home, pay off an existing second mortgage, and get up to $20,000 in cash (up to 90% of your appraised value).  Most conforming lenders will limit your loan amount to 80% of the appraised value if you are either getting 'cash back' or paying off a home equity line of credit.  With home values declining in some markets, this has prevented many people from refinancing. 

We are happy to say that we now have access to four different loan types that allow up to 90% financing and also do not require mortgage insurance (PMI).  Please call one of our experts today for more details.  Jason Conn can be reached by calling 404-836-1120 ext 205.