Contra Costa Releases Six Billion Dollars in Federal Funds for First Time Buyer Programs

January 8, 2010

“The Weekly Wrap Up”

First week of 2010 down! I hope you were able to grab the momentum of the new year and start things off right.

By the way…if you are thinking about a purchase a new home you should know that the Federal Tax Credit of $8,000 to first time home buyers is due to expire in April of 2010. Get crackin and buy something! When was the last time in history you could buy a home at these prices get a loan under 5% and have the government pay you $8,000 to do it? These are truly unique times we are in.

Did you know that Contra Costa County is releasing 6 Billion dollars this month for the Mortgage Credit Certificate Program? This is s huge opportunity for your borrowers to take advantage of a little known government program that can save thousand each year!

Check out the newest and hottest loan programs and let me know if you would like to see if you fit into any of them. We were locking rates in this week at around 4.75% on a 30 Year Fixed with no points this week!

Hot Loan Programs at a Snapshot

95% Conventional Loans are Back in California!
Contra Costa Mortgage Credit Certificates. Get up to 20% tax credits on interest paid on your mortgage throughout the year!
100% Financing with VA Loans!
Government Programs up to 97% Financing. with $8,000 in Tax Credits for First time buyers and starting in 2010 $6,500 for 2nd home and investment properties.
FHA HUD Financing Incentive. $100 down payment gets you in a home!
Fannie Mae Freddie Mac Refinance Plus! HARP Refinance your home up to 125% of the value.
Concord CA Affordable Housing and First Time Home Buyer down payment assistance up to $40,000!
No Appraisal Required on Home Path Loans. Fannie Mae REO properties

Here we are wrapping up Friday 1/8/2010. Mortgage rates finally saw some relief after rising for four straight weeks since hitting record lows back in early December, according to mortgage financier Freddie Mac.

The popular 30-year fixed averaged 5.09 percent during the week ending January 7, down from 5.14 percent a week earlier, but slightly above the 5.01 percent average seen a year earlier.

The 15-year fixed fell to 4.50 percent from 4.54 percent, and sits just below the 4.62 percent average seen this time last year.

The five-year adjustable-rate mortgage remained unchanged at 4.44 percent, while the one-year ARM slipped two basis points to 4.31 percent.

A year ago, the five-year stood at 5.49 percent and the one-year averaged 4.95 percent.

You can look at weekly rate trends Here.

Three Real Estate Investor Events This Week!

Investor Forum in Bay Area CA RSVP Here!

Join us and learn from a ton of Real Estate Entrepreneurs and Investors that are helping people like you create massive wealth in Real Estate TODAY!!. This will be a packed event where you will learn nuts and bolts Real Estate Investment knowledge to take advantage of what is happening in the market RIGHT NOW!