You Presently Own a Home

Current Homeowners imageTax Credits for Your New Purchase

Get a Matchless Mortgage buttonIf you’re a homeowner looking to purchase a new one, you may qualify for IRS tax credits when buy your next home—it will depend upon where your new home is located. In Colorado there are 21 entire counties and 11 other counties with specially designated areas that allow non-first-time home buyers and non-veterans to qualify for tax credits (all first-time buyers and all veterans are allowed to qualify for tax credits no matter where their newly purchased home is located). Click here to contact Command Home Mortgage to learn if the area(s) in which you would like to purchase your next home qualifies for IRS tax credits. If your home qualifies, you will receive tax credits every year your own and live in your home—saving you many thousands of dollars.

Minimum Down Payment

The minimum down payment needed when purchasing a new home—depending on what is the best loan for you—ranges between zero down on VA or USDA loans, to 3.50% down on FHA mortgages, to 5.00% down for a conventional loan. Each of these mortgages mentioned require mortgage insurance except VA loans and conventional loans with a 20% down payment. Mortgage insurance will either increase your monthly mortgage payment or slightly increase your interest rate when your mortgage insurance is paid by your lender.

Remodel, Renovate, or Fix Up

Another alternative you might wish to consider is to remain in your present home and remodel, renovate, or fix it up. Command Home Mortgage has both conventional and government loans that give you the money to make small or large improvements to your present home. The loan is based on the as improved value of your home. This is an excellent way to change your home into your dream home, assuming you like your present location, neighborhood, and so on.

To investigate this option further, contact Command Home Mortgage, and we’ll give you all the details and answer all your questions.