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Who Qualifies for the Extended Credit? First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010. Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight. To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase. Which Properties Are Eligible? The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops. How Much Is Available? The maximum allowable credit for first-time home buyers is $8,000. The maximum allowable credit for current homeowners is $6,500. How is a Buyer's Credit Amount Determined? Each home buyer’s tax credit is determined by tow additional factors: The price of the home The buyer's income Price Under the Extended Home Buyer Tax

Legislation has been passed to extend the $8,000 home buyer tax credit to May 1, 2010, for first-time buyers and add a $6,500 tax credit for repeat buyers if they've lived in their home for five of the past eight years. Home prices are capped at $800,000. The legislation in both houses was included in a bill to extend unemployment benefits and is expected to be signed by President Obama shortly. Under the bill, income limits are expanded to $125,000 for individuals and $225,000 for joint filers. Individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 qualify for reduced credits.Households who have binding contracts in place by April 30 will be allowed an additional 60 days to complete their transaction. The deadline for members of the military serving out the U.S. for at least 90 days between Jan. 1, 2009, and May 1, 2010, has been extended one year. Taxpayers can claim the credit on their federal income tax returns. If the credit exceeds their tax bill

Are you ready to own a home but are not sure you will qualify due to lack of a down payment? Rural Development may be able to help you! USDA Rural Development has offers 100% financing opportunities to rural individuals and families with: No down payment required No expensive monthly mortgage insurance (which means you may qualify for a larger loan) Flexible credit and qualifying guidelines No maximum purchase price limit Closing costs can come from any source including gifts or the seller Repairs and improvements can be included in the loan Competitive fixed 30-year rates. So, if you have been thinking about taking advantage of the $8000 Home Buyer Tax Credit, but do not have the money for a down payment and closing costs, think again! The Rural Development guaranteed loan program has assisted thousands of home buyers customers just like you. It is definitely worth looking into! Click here for more information and check out my website for more home buying tips!

Great News! It has been tentatively agreed upon to extend the existing $8,000 tax credit for first-time home buyers! The credit has also been expanded to also offer a new $6,500 credit for existing homeowners who have lived in their current residence for a consecutive five-year period in the past eight years. Home buyers must be under contract by April 30, 2010, and close before July 1. This is exciting news!!! Spread the word!!!

If you've been passing up on buying a home because of the expense of anticipated cosmetic repairs, you're missing out on a great opportunity. Sure, it used to be that if you bought a home and then applied for a home equity loan to pay for repairs, the result would be two separate loans (or worse, a mortgage plus a short-term loan for repairs that often had a much higher interest rate). This is not the case anymore if you qualify for an FHA Streamlined 203(k) loan. The Department of Housing and Urban Development's FHA Streamlined 203(k) loan allows qualifying home buyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this product, home buyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser. And the best part is, the additional funds are combined into your mortgage, so you only have to worry about one loan. There are

Obtaining a home inspection is one of the most important steps in purchasing a home. A qualified inspector can point out potential costly problems with the home you are considering buying, and a good inspector will give maintenance advice and ultimately give you peace of mind about your home investment. All home buyers -- whether they are buying an older home or building a new one -- should have the home inspected by a professional after making an offer and before closing. There are a few things you need to know before hiring a home inspector. First, the home inspection industry is becoming more professional and regulated. There are professional organizations with codes of ethics, like the National Association of Home Inspectors and the American Society of Home Inspectors, but membership is voluntary. The average home inspection costs $300, which is paid on the day the inspector examines your home. Lower or higher fees do not necessarily reflect the expertise of the inspector. Finding

Save Energy and Money with the Appliance Rebate Program! Are your old appliances costing you a fortune? There is no better time to replace them thanks to the Efficiency Maine Appliance Rebate Program going on right now. Replace an old air conditioner, dehumidifier, clothes washer or refrigerator/freezer with selected Energy Star appliances and you could receive rebates of up to $75.00 today, plus you will save even more with lower electric bills in the future. Click here for more details .

KILL-A-WATT® ELECTRICITY MONITORS Detect the "energy thieves" in your home with the new Kill A Watt® Energy Detector. This electricity usage monitor and educational tool kit is available for free checkout from your local library. The monitor will help you detect the "energy thieves" in your home and the tool kit will help you put the lid on power consumption by appliances and electronics in your home or business. The Kill A Watt® and tool kit is on loan in most Maine public libraries as part of a state-wide community outreach campaign by Efficiency Maine, a program of the Maine Public Utilities Commission. Mainers can check out the Kill A Watt® monitors, just as they would check out a book, from their local library at no charge. These monitors simply plug into electrical outlets and then allow a consumer to plug in any appliance to get readout on how much electricity the appliance uses and then calculate how much money it's costing. The educational tool kits i

Want to save money on your energy bills? Here are some energy-saving tips for you! Heating & Insulation — By turning down your thermostat by 1 degree F, you can save 25-30 gallons of heating oil per year. That’s up to 3% of an average home's yearly consumption, or between $105-$128 per year at the current average rate of heating oil ($4.26/gallon). More Heating & Insulation Tips... Cooling — Save up to 3% on your cooling costs for every degree you raise your thermostat in the summer. For example, raising it from 73 to 78 degrees can save up to 15% in cooling costs. More Cooling Tips… Appliances — Wrap your water heater with a water heater blanket, especially if it's in an unheated area of your home. The blanket could save you up to 10% on water heating costs. More Appliance Tips… Lighting — CFLs can give the same amount and quality of light as incandescent bulbs, yet use one-third the amount of energy and last ten times longer. A CFL can save over $30 in electricity c

Many homes or buildings built before 1980 may still contain asbestos or old corrosive building materials. This should not make you overly concerned, because asbestos exposure is easily avoidable by taking simple precautions. Many green, Eco-friendly alternatives are available which not only provide a safe and health method of insulation, they can even help in reducing annual energy costs. Tips and Prevention: If any asbestos is located in the home, most experts suggest to just leave it alone and undisturbed. Asbestos that is not deteriorated and left alone will almost always not pose any risks. The best action may be no action at all. When its fibers are disturbed and become airborne, it can be a cause for concern. Home professional consultants can provide an evaluation of the home. It is not always an easy process to determine whether or not a particular insulation contains asbestos. Anyone who is unsure about the insulation in their home should have the materials in question tested.