Posts Tagged ‘ downpayment ’

CALIFORNIA – 1st time home buyer incentives (& federal as well) – questions…?

February 21, 2011

I’ve heard of the 00 tax credit(?) for first time homebuyers (of which I am one), and I have no idea what (if anything) this giant 0 billion thing has for homebuyers, and I know that certain counties have programs, etc.

My question is, is there a time limit to any of the more recent ones, like this 00 thing?
And is it just a ‘tax deduction’, or is it really like I’m getting 00 for a downpayment?

I’m in Northern California, Placer County, if that makes any diff.

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Can I use a second mortgage to finance a new mortgage in California?

February 13, 2011

My husband and I are considering taking out a small second (approx ,000) on our condo to pay the 3% downpayment required for a second home. We plan on using the FHA loan. Are we able to do this? We live in California, and lending rules are becoming very strict. Thank you in advance.

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