$8,000 First Time Homebuyer Tax Credit
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right time?Have you been waiting for the
The convergence of three unique events
have come together
right time
The convergence of three unique events
have come togetherto make now the
Chik QuintansCreated and Presented by
Certified Mortgage Planner
National Lic: MLO-86133
First-timeBuyer?Are you a
First-timeBuyer?Are you a or a
First-timeBuyer?Are you a Current Homeowner?or a
First-time Buyer?
What defines a
first-time buy⋅er
noun - a person(s) who have not owned a main residential property in the last
first-time buy⋅er36 months
Current Homeowners?
What about
current homeowner
person(s) who has owned and resided in the same home
for at least five consecutive years out of the last eight years
current homeowner
you,if either of these describe
your timethen
is now
Events3
moreaffordablehome prices#1
Low cost of ownership far below the historical average.
40.5% of Income then
23% of Incometoday
vs.
Chart from Estate of Mind
lowest interest rates
in30-40years
#2
Chart from Certified Scripts
Lowest interest rates in 30-40 years
Chart from Certified Scripts
What does 1% mean to your income pie?
What does 1% mean to your income pie?
Example, your annual income is $84,000 or $7,000 per month.
Finance $375,000 Fixed 30 years
6% = payment of $2,248/month
5% = payment of $2,013/month
So, what does 1% mean to your income pie?
So, what does 1% mean to your income pie?
68%
32%
72%
28%
$235 less bite out of your monthly income
6% mortgage
vs. 5%mortgage
of your income of your income
So, what does 1% mean over 3o years?
So, what does 1% mean over 3o years?
$84,600 less over the life of the mortgage loan!
6% mortgage
5%mortgage
$0 $110,000 $220,000 $330,000 $440,000
$349,709
$434,396vs.
Total Interest Paid
$8,000.00First-time Buyer
Tax Credit#3
$6,500.00Current Homeowner
Tax Credit#3a
These 3 events3
homebuyer tax credit
have createdopportunity
an amazing buying
These 3 events3
However,
your family, neighbors, co-workers & maybe you are fearfulHowever,
successfulPerhaps you should consider the thoughts of these
teachers
“Be fearful when others are greedy. Be greedy when others are fearful.”
- Warren Buffett
“Be fearful when others are greedy. Be greedy when others are fearful.”
“Inside of every problem lies an opportunity.”
“Inside of every problem lies an opportunity.”
- Robert Kiyosaki
“In investing, what is comfortable is rarely profitable.”
“In investing, what is comfortable is rarely profitable.”
- Robert Arnott
tax deductionsDonʼt forget your
tax deductionsMortgage Interest
Real Estate TaxesMortgage Insurance
Donʼt forget your
+
the Homebuyertax credit
2010until June 30th
+
How do the tax creditswork?
Have a property under contract by April 30th
Close on your new home by
June 30th
Have a property under contract by April 30th
Close on your new home by2010
Letʼs say at the end of the year
you owe $2,500in federal taxes
$2,500 - $8,000 = ($5,500)
$2,500 - $8,000 = ($5,500)
refundthatʼs a $5,500
Federal tax
In the case of a First-time Buyer, taxes are reduced
owed refund
Again,
homebuyer tax credits
createdopportunity.
an amazing buying
three unique events haveAgain,
Hmmm...I think now is finally
the right time
"Opportunity knocks at the strangest times, It's not the time that matters, but how you answer the door."
"Opportunity knocks at the strangest times, It's not the time that matters, but how you answer the door."
- Steve Gray
The Dooris now Open
Contact Chik Quintans Office 425.771.2095Email [email protected] www.chiksblog.com
To find out more and get pre-qualified today,
National Lic: MLO-86133 3503 188th St SW, Lynnwood, WA 98037
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