Friday, December 4, 2009
Cutting Household Expenses In 2010
PSA: Check your household expenses and see what bills you can lower. Make a few phone calls to see if they are offering you the best deal. I did it and it was well worth the time. Life is all about what you negotiate. Treat your household like a business and see where you can cut cost in the new year.
Thursday, December 3, 2009
Dream Home
Once you’re ready to start looking for a home, think carefully about what you want — there is so much to consider: Sales price, Neighborhood, Distance to work, schools, shopping.
If you have children, you may want to know if there are other kids in the neighborhood and whether schools and playgrounds are nearby. As a working person, distance and travel time to and from work or the availability of public transportation may be a factor.
You’ll also want to consider the condition of the plumbing, heating, electrical systems, and whether these are up to code. Closet space. Number of bedrooms. The list goes on and on.
As a real estate agent, I know the local market and have information about such things as school systems, tax rates, water and sewer charges, public transportation and other concerns that might affect your decision to buy a particular home.
If you’re in the market for a home, please give me a call @ 832-647-1769 or send me an e-mail @ donte@TheNewlywedRealtor.com
If you have children, you may want to know if there are other kids in the neighborhood and whether schools and playgrounds are nearby. As a working person, distance and travel time to and from work or the availability of public transportation may be a factor.
You’ll also want to consider the condition of the plumbing, heating, electrical systems, and whether these are up to code. Closet space. Number of bedrooms. The list goes on and on.
As a real estate agent, I know the local market and have information about such things as school systems, tax rates, water and sewer charges, public transportation and other concerns that might affect your decision to buy a particular home.
If you’re in the market for a home, please give me a call @ 832-647-1769 or send me an e-mail @ donte@TheNewlywedRealtor.com
Wednesday, December 2, 2009
Stop Paying Rent, Invest in Your Future
Today may be the best time to buy in many years, especially if you plan to stay in your home for approximately five or more years. If you think you should keep renting because of the state of today's housing market, think again. Talk to any homeowner who purchased their home ten or more years ago. It's unlikely that they could buy their home today for what they originally paid.
Financial benefits to home ownership include: equity increase due to appreciation, principal reduction and home improvements, and tax benefits.
Personal benefits include: pride of ownership, stability, security, freedom to occupy or rent the home, and much more.
Your new home may be closer than you think. Call 832-647-1769 today for a free analysis of your situation, and learn how easily you may be able to afford your own home.
Financial benefits to home ownership include: equity increase due to appreciation, principal reduction and home improvements, and tax benefits.
Personal benefits include: pride of ownership, stability, security, freedom to occupy or rent the home, and much more.
Your new home may be closer than you think. Call 832-647-1769 today for a free analysis of your situation, and learn how easily you may be able to afford your own home.
Tuesday, December 1, 2009
Homebuyer Tax Credit Extended & Expanded
First-Time Homebuyer Tax Credit Extended through April 2010
Eligible first-time homebuyers who purchase by April 30, 2010, can qualify for a tax-credit of 10% of a home’s sale price, up to $8,000 for single and joint filers and $4,000 for married individuals filing separately. To qualify, buyers or their spouses may not have owned a residence during the three years prior to the purchase.
New: $6,500 Tax Credit for Current Homeowners through April 2010
Eligible current homeowners purchasing a home between Nov. 7, 2009, and April 30, 2010, may qualify for a tax credit up to $6,500. To qualify, homeowners must have owned and resided in a home for at least five consecutive years of the eight years prior to the purchase date.
Dollar-for-Dollar Reduction
These tax credits are straight, dollar-for-dollar reduction of the buyers’ tax bills and will be paid out to eligible taxpayers, even if they owe no tax, or the credit is more than the tax that they owe.
Eligible Properties
Tax credits may be applied to any home that will be used as a primary residence, including single-family homes, condos and townhomes. The purchase price may not exceed $800,000, and the home cannot be purchased from other family members (parents, grandparents, children, grandchildren, etc.) or a spouse or a spouse’s family members.
Expanded Income Limits
Effective Nov. 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000 may receive the maximum tax credit. The amount is reduced for buyers with a modified adjusted gross income (MAGI) above those limits.
Buyers with an MAGI of more than $145,000 (single) or $245,000 (married) are not eligible. First-time homebuyers who purchased between Jan. 1, 2009, and Nov. 6, 2009, are subject to income limits in place prior to the extension of the tax credit. For married couples filing a joint return, that was an adusted gross income (AGI) of $150,000 or less; and all others, an adjusted gross income (AGI) of $75,000 or less.
Deadline
Homebuyers must have a written, binding contract to purchase in effect by April 30, 2010, and must close by June 30, 2010.
NOTE: This is only a brief summary of the First-Time Homebuyer and Current Homebuyer Tax Credit, intended for informational purposes only. This summary does not constitute tax, accounting or legal advice of any kind. Because other terms and conditions may apply to any individual taxpayer, individuals should consult their independent tax advisor to ascertain whether they are eligible for this tax credit. Although this summary is generally accurate, we do not warrant the accuracy, reliability or completeness of this summary. More information regarding the tax credit is available from the Internal Revenue Service at www.irs.gov.
Eligible first-time homebuyers who purchase by April 30, 2010, can qualify for a tax-credit of 10% of a home’s sale price, up to $8,000 for single and joint filers and $4,000 for married individuals filing separately. To qualify, buyers or their spouses may not have owned a residence during the three years prior to the purchase.
New: $6,500 Tax Credit for Current Homeowners through April 2010
Eligible current homeowners purchasing a home between Nov. 7, 2009, and April 30, 2010, may qualify for a tax credit up to $6,500. To qualify, homeowners must have owned and resided in a home for at least five consecutive years of the eight years prior to the purchase date.
Dollar-for-Dollar Reduction
These tax credits are straight, dollar-for-dollar reduction of the buyers’ tax bills and will be paid out to eligible taxpayers, even if they owe no tax, or the credit is more than the tax that they owe.
Eligible Properties
Tax credits may be applied to any home that will be used as a primary residence, including single-family homes, condos and townhomes. The purchase price may not exceed $800,000, and the home cannot be purchased from other family members (parents, grandparents, children, grandchildren, etc.) or a spouse or a spouse’s family members.
Expanded Income Limits
Effective Nov. 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000 may receive the maximum tax credit. The amount is reduced for buyers with a modified adjusted gross income (MAGI) above those limits.
Buyers with an MAGI of more than $145,000 (single) or $245,000 (married) are not eligible. First-time homebuyers who purchased between Jan. 1, 2009, and Nov. 6, 2009, are subject to income limits in place prior to the extension of the tax credit. For married couples filing a joint return, that was an adusted gross income (AGI) of $150,000 or less; and all others, an adjusted gross income (AGI) of $75,000 or less.
Deadline
Homebuyers must have a written, binding contract to purchase in effect by April 30, 2010, and must close by June 30, 2010.
NOTE: This is only a brief summary of the First-Time Homebuyer and Current Homebuyer Tax Credit, intended for informational purposes only. This summary does not constitute tax, accounting or legal advice of any kind. Because other terms and conditions may apply to any individual taxpayer, individuals should consult their independent tax advisor to ascertain whether they are eligible for this tax credit. Although this summary is generally accurate, we do not warrant the accuracy, reliability or completeness of this summary. More information regarding the tax credit is available from the Internal Revenue Service at www.irs.gov.
Tuesday, September 22, 2009
You Down With OPM (Other People's Money)
Good to Excellent Credit can get you into alot of places. Like a new home. You down with OPM (Other People's Money) Using other people's money to get what you want. So don't let that $100 cable bill or cell phone bill go to collections. That $100 can hinder you from getting those keys to your new home.
Wednesday, August 26, 2009
Who Is EDJ As A Mortgage Broker?
EDJ Mortgage & Wealth Strategies is a full-service mortgage brokerage firm offering expertise in every area of mortgage lending...from purchase to refinance. We have access to a full range of mortgage sources and all of our lending specialists are dedicated to finding the right loan - with the best rates, terms and costs - to meet your unique needs. But that's just part of the service we offer. EDJ Mortgage & Wealth Strategies also provides a strategic EDJe for paying off your mortgage loan faster so you can use that money to build wealth and live with the peace of mind of a paid-off mortgage. That’s right, EDJ Mortgage & Wealth Strategies can assist you with your home loan, and we now provide the EDJe on successfully building wealth beyond the home loan experience!
Edmond Donte' James, owner of EDJ Mortgage & Wealth Strategies, brings an extensive amount of financial experience and expertise to the company. He holds a Bachelor of Business Administration in Finance from Delta State University, and a Master of Business Administration in Finance from LeTourneau University. His previous experience as an accountant and mortgage loan officer, and his drive to help others succeed, gives him the "EDJe" on helping his clients build wealth to achieve personal financial well-being. By incorporating a financial planning and consultative approach within the business, EDJ helps clients reach their true dreams...wealth accumulation.
Edmond Donte' James, owner of EDJ Mortgage & Wealth Strategies, brings an extensive amount of financial experience and expertise to the company. He holds a Bachelor of Business Administration in Finance from Delta State University, and a Master of Business Administration in Finance from LeTourneau University. His previous experience as an accountant and mortgage loan officer, and his drive to help others succeed, gives him the "EDJe" on helping his clients build wealth to achieve personal financial well-being. By incorporating a financial planning and consultative approach within the business, EDJ helps clients reach their true dreams...wealth accumulation.
What Is A Mortgage Broker?
I am often asked, “What is a mortgage broker and why should I have one?” By definition, a mortgage broker arranges financing for a borrower by placing loans with lenders. Mortgage brokers are paid a fee by the borrower and/or the lender when a loan closes. Why should you have a mortgage broker or more specifically, why should you have me as your mortgage broker? Glad you asked. Just like you have a doctor or lawyer on-call should something come up, you should have a mortgage broker that you can call on for all your real estate needs. As a mortgage broker, I am able to answer any of your real estate financing questions because of my expertise in the industry. Why should you get your financing through a mortgage broker? Because I have access to a vast number of lenders that offer different mortgage products based on your credit scores. I also have access to lenders that offer commercial loans.
All of these lenders offer me interest rates that are wholesale, which are usually lower than interest rates offered in a retail environment. One of the biggest advantages to working with a mortgage broker like myself, is that I am able to “shop” for the best loan that meets your financial needs without the risk of pulling your credit report multiple times.
Here’s how it works: You are interested in financing your new home/business or refinancing your existing home. After meeting with you to discuss your financing needs, I get your permission to pull your credit report. My lenders will use that "one" credit report to determine what interest rate and terms you qualify for. Now, if you decided to go to your personal bank for a mortgage loan, that personal bank will only have access to their products, while as a mortgage broker, I have access to multiple loan products. Therefore, if you do not qualify for your personal bank’s loan programs or do not like the interest rate your personal bank is offering, then you will have to seek another source for financing your mortgage loan, which will result in another inquiry on your credit report. We discussed how multiple inquiries can decrease your credit scores and you don’t want that to happen!
EDJ Mortgage pulls your credit one time and is able to offer you a very competitive rate and term based on your financial needs. One of the other things about working with me is that, as the mortgage broker of EDJ Mortgage & Wealth Strategies, I am able to control some of the fees and even the interest rates. So it pays, literally, to have me as your mortgage broker. Your EDJe on building wealth starts right away when you work with mortgage broker EDJ!
All of these lenders offer me interest rates that are wholesale, which are usually lower than interest rates offered in a retail environment. One of the biggest advantages to working with a mortgage broker like myself, is that I am able to “shop” for the best loan that meets your financial needs without the risk of pulling your credit report multiple times.
Here’s how it works: You are interested in financing your new home/business or refinancing your existing home. After meeting with you to discuss your financing needs, I get your permission to pull your credit report. My lenders will use that "one" credit report to determine what interest rate and terms you qualify for. Now, if you decided to go to your personal bank for a mortgage loan, that personal bank will only have access to their products, while as a mortgage broker, I have access to multiple loan products. Therefore, if you do not qualify for your personal bank’s loan programs or do not like the interest rate your personal bank is offering, then you will have to seek another source for financing your mortgage loan, which will result in another inquiry on your credit report. We discussed how multiple inquiries can decrease your credit scores and you don’t want that to happen!
EDJ Mortgage pulls your credit one time and is able to offer you a very competitive rate and term based on your financial needs. One of the other things about working with me is that, as the mortgage broker of EDJ Mortgage & Wealth Strategies, I am able to control some of the fees and even the interest rates. So it pays, literally, to have me as your mortgage broker. Your EDJe on building wealth starts right away when you work with mortgage broker EDJ!
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