Mortgage Tampa FL
November 30, 2009
The four-county area is composed of roughly 3 million residents, making it the second largest metropolitan statistical area (MSA) in the state, and the fourth largest in the Southeastern United States, behind Miami, Washington, D.C., and Atlanta. Gateway Capital Mortgage offers a wide variety of Florida Mortgages to refinance your current mortgage or to help purchase your new home.
Why Choose Us?
We offer a wide range of Tampa home mortgage solutions.
Because our representatives are Tampa mortgage broker experts, and can help you with making the right decision.
We offer Tampa home mortgages to those with past bad credit problems (foreclosure, bankruptcy, judgments, and collections).
We have the best Tampa mortgage rates for all credit grades in Florida.
Florida VA Loans & Florida FHA Loans
Refinance Cash Out for any reason
Florida Jumbo Mortgage
1st Time Home buyers
Florida USDA Loans
FHA Bankruptcy Buyout
Florida Credit Repair
Current Home Mortgage Rates
Homebuyer Tax Credit Details
June 11, 2009
When it comes to the $8,000 tax credit for first-time homebuyers, it seems there’s a new program every week to help tap that money today.
The credit can be claimed on 2008 or 2009 tax returns. Homebuyers who get a loan backed by the Federal Housing Administration can use the money to cover closing costs and other fees, and at least 10 states offer ways to use the tax credit faster.
“There are some real neat tax planning strategies you can apply now,” said Bob Meighan, vice president of TurboTax.
To be eligible, a buyer cannot have owned a home in the past three years. So if you’re ready to buy, here are some tips:
INCOME CONSIDERATIONS: The tax credit, for home purchases made through end of November, comes with income thresholds, $75,000 for individuals and $150,000 for joint filers. After those limits, the credit begins to phase out. If you bought a home this year and expect your 2008 income to be lower than next year’s, it makes sense to file for the credit this year using a 2008 amended return.
However, if you think your income will decrease, due to job loss, wage cuts or hour reductions, it makes more sense to file for the tax credit on your 2009 tax returns to get the most out of the credit, Meighan said.
TAX WITHHOLDING: Another benefit to waiting until 2009: You can increase your take-home pay. By taking the credit next year, you can change your tax withholding status with your employer now and get more on a paycheck-to-paycheck basis, Meighan said.
You’ll be giving up a “fatter” tax refund next year, but each month you’ll have more change in your pocket.
Also, don’t forget to reduce your federal and state tax withholding to account for the tax deduction you can take on the mortgage interest and property taxes you pay.
BRIDGE LOANS: Ten states (and the list keeps growing) are offering so-called “bridge loans” for the federal tax credit, so homebuyers can take advantage of the $8,000 before the 2010 filing season. Qualified homebuyers in Colorado, Delaware, Idaho, Kentucky, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania and Tennessee can receive a loan with little to no interest and repay it with the tax credit refund next year.
“I see it as an upside,” Meighan said. “It gives homebuyers more flexibility,” with the money.
Each state program varies and some require a minimum down payment contribution from the buyer.
Some nonprofit organizations like NeighborWorks America are also offering bridge loans for the tax credits.
California also enacted its own one-time home buying credit for newly built homes purchased between Feb. 28 and March 1, 2010. The nonrefundable credit, which is for all buyers, not just first timers, is equal to 5 percent of the purchase price up to $10,000. It can be claimed over a three-year period. The property must be a single-family residence, the principal residence and eligible for the property tax homeowners exception.
A California resident can take both the federal and state tax, according to Kathleen Thies, a state tax analyst at CCH Inc. However, only $100 million has been put aside for the state credit and that money is expected to run out this month or next. And there are no plans to add more funding to the program.
“It’s on a first-come, first-serve basis,” Thies says.
ADVANCE CREDIT: Last month, the FHA said its borrowers can receive advances on the $8,000 first-time homebuyer tax credit from lenders, so they don’t have to wait to get the money next year from the Internal Revenue Service.
Borrowers will still have to come up with the FHA’s required 3.5 percent down payment, but the advance from the tax credit can be applied toward closing costs, fees or to increase the down payment.
John W. Roth, a senior tax analyst at CCH, believes some lenders won’t participate. The process involves more work for lenders, but lenders can only charge an additional 2.5 percent fee for that.
Florida Mortgages
November 25, 2008
When you decide to buy a home or refinance a mortgage in Florida, your search for a home loan or mortgage should start and end here. With so many Tampa Mortgage lenders to choose from, and nationally, you need to choose one you can trust to find the mortgage loan that’s best for you.
Sure, there are dozens of big bank mortgage lenders nationally, but you need a lender in FLORIDA. Why? Because we know Florida. We know the local REALTORS®, appraisers, inspectors, and so much more. We also have state-of-the-art technology that makes the loan process as easy and fast as possible, all while delivering personal customer service that can’t be beat. Don’t gamble your family’s largest investment with a big name lender that may not know Florida. Choose us, the Florida mortgage broker and loan specialist!
We serve ALL OF FLORIDA INCLUDING the following areas with home loans and related services:
- Hillsborough County
- Pinellas County
- Pasco County
- Polk County
- Hardee County
- Manatee County
We’ll help you find the perfect home loan or mortgage.
Refinance loans, or refinancing your current home in FL
We helped FLORIDA families lower their mortgage payments and/or lock in lower interest rates for their home loans every day.
We can help you draw from home equity for home improvements, school or medical expenses, a family vacation, and any other reason under the sun!
Bridge loans, jumbo loans, reverse mortgages and so much more!
No matter what type of home loan you need, we’re ready to help.
We will give you the personal attention you deserve and treat you as a valued customer.
Give us a call or apply online now!
