Pennsylvania First Time Home Buyer Assistance

UPDATE ON INTEREST RATES:  Average rates for conventional 30 year mortgages went up 5.05 percent this week from 4.93 percent a week earlier, according to Freddie Mac.  The interest  rates on a 30 year fixed loans had been below 5 percent for the past three weeks, close to the all time low of 4.71 percent set in December.

The 15 year fixed rate also rose this week, with jumping to 4.40 percent from 4.33 percent .

Long-term mortgage rates fell for the third straight week, pushing the average rate on 30-year fixed rate loans below 5 percent again, according to Freddie Mac.  

This week, January 28, 2010, average interest on a 30-year mortgage was 4.98 percent, compared to 4.99 percent  last week and 5.16 percent a year ago.  Rates on 15-year fixed loans also followed bond yields lower, averaging 4.39 percent, compared to 4.40 percent last week; and adjustable-rate mortgages also fell this week.

Check back weekly to get interest rates from Freddie Mac.  This is a great time to buy a new home.  Give me a call today and we can start looking for your dream home.

The IRS has released IR-2010-6, which provides a revised Form 5405 to reflect the changes to the homebuyers tax credit made in the extension and expansion legislation enacted in November 2009. 

You will need the HUD-1 or evidence of the transaction must be filed with all returns claiming the tax credit for the $8,000 First Time Home Buyer Tax Credit and the $6,500 Move-Up / Repeat Home Buyer Tax Credit. If you need more information, please read the instructions on the IRS  website.
http://www.irs.gov/newsroom/article/0,,id=218336,00.html