I know I talk about the first-time buyer credit that we offer to all first-time buyers making under $116,280 per year if they are a 1-2 person household or $135,660.00 if there are 3 or more people in a household.  I know you are aware that there is a 20% TAX CREDIT on the interest that is paid on the loan, but what does that mean in dollars?   Well, let's say we have a buyer that has a $400,000.00 Loan Amount and they get a rate of 4.750%.  Their payment would be $2086.59 + taxes... The interest portion of the loan is $1572.23 on average for the first year so they will get a TAX CREDIT of $314.00 per month!  So their true payment is $2086-$314 = $1772.  So a $400,000.00 loan with a $1772.00 payment if calculated over 30 years actually has an effective interest rate of 3.39%!  Holy Moses Batman everyone that can qualify for this loan should!!!  This is a NO BRAINER!!!  Yes this can be done with FHA, VA, and Conventional loans!  The rate stays about the same no matter what loan amount a buyer is getting!  Remember the rate does not change but the effective rate is 3.39%!  THIS IS CRAZY GOOD!!!
 
OK, I have no more words to describe it, but to my millennial followers this may help!  Bruh, this tax credit thing is Lit!  I am gonna tell the Fam TBH this loan program is the GOAT! 
 
Now I am done!  Hope I didn't embarrass myself, and good luck translating the last paragraph! 
 
Interest rates are still great!  The 30-year mortgage has had 104 months below 5% in the past 60+ years!  I hope these help you if you are shopping around:

• 30-year fixed conventional 1st Mortgage with 20% down - 4.750% (4.813 APR). Loan amounts up to $453,100.00 = $2363.58
• 15-year fixed conventional 1st Mortgage with 20% - 4.250% (4.352 APR). Loan amounts up to $453,100.00 = $3408.57
• 5/1 ARM 1st Mortgage -  20% down - Fixed for 5 years and then becomes variable - 4.125% -  (4.276 APR) Loan amounts up to $453,100.00 = $2195.95
• 7/1 ARM 1st Mortgage - 20% Fixed for 7 years and then becomes variable - 4.375% - (4.528 APR) Loan amounts up to $453,100.00 = $2262.26
• 10/1 ARM 1st Mortgage - 20% Fixed for 10 years and then becomes variable - 4.375% - (4.528 APR) Loan amounts up to $453,100.00 = $2262.26
• 30-year fixed 1st Mortgage FHA loan 3.50% down - 4.375% (5.539 APR). Loan amounts up to $453,100.00 = $2301.85 + $326.56 PMI = $2628.41
• 30-year fixed 1st Mortgage VA loan 0% - 4.375% (4.318 APR). Loan amounts up to $453,100.00 = $2262.26
• 30-year fixed 1st Mortgage Jumbo loan 20% down - 4.625% (4.639 APR). Loan amounts up to $3,000,000.00 = $15,424.19

All of the above are based on a 740-credit score.  Rates are subject to change without notice, your mileage may vary! 
Have a great week and I will be here all week!  Please call me if you have any questions or if I can assist you or anyone you know with a home loan.  My office line is 661-260-2970 and my cell is 661-714-6258.  Have a great week! 


Sincerely,