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First Coast Home Hunters Blog: Jacksonville Home Buyer

VA Loan Tricks for Buyers

Hello everyone :)

Over the years lenders have taught us some great tricks when writing our Purchase Contracts for our Veterans using VA Loans.

It is possible in a VA Loan to pay of some of the buyers debts.  NO - this is not like the old days of anything goes Actually (to my knowledge) VA Loans are the only loans that allow this type of thing,.  Generally 2-2.5% of the purchase price can go to any debbt the buyer has....including a break the lease fee.  

Also, if a veteran is 10% disabled they can get out of the VA Funding Fee COMPLETELY.   This saves 2.15-3.3% of the loan amount. 

If you or someone you know is a veteran and would like a Realtor who knows how to maximize their position let us know.  We will help negotiate the best terms possible on a purchase in Jacksonville, St Augustine or Orange Park, FL.

Check out our old blogs for details on teh First Time Home Buyer Tax Credit that can go WITH a VA Loan~!

Rob/Kris and the First Coast Home Hunters Team

First Time Home Buyer Tax Credit

I know we have talked about this before BUT its the best thing I have ever seen for 1st Time Buyers. 

A FIRST TIME BUYER IS ANYONE who has not owned a home in the past 3 years.

The tax credit is up ro 2,000 per year for up to 30 years as long as you keep the original loan and still reside in the home as your primary residence. 

Most people would get the full 2,000 per year.

There are some income restrictions - from what i have read if you have 1-2 people in your household you can have up to 76,000 of household income.

If you have 3+ in your household you can make around 89,000 per household.

There is no special loan you only have to get your loan from a lender who is signed up so their consumers are eligible to receive it.

This is only for people who close on their home in the calendar year of 2014.  Please share!

First Time Home Buyer Tax Credit

I just learned about a new benefit for 1st Time Home Buyers...it comes in the form of a tax credit - from what I am reading it is up to a $2,000 savings per year and it continues on for the life of the loan as long as it remains your primary residence.

Here is an excerpt from the program:  "With the Program the homeowner can claim up to 50 percent of their paid mortgage interest each year as a TAX CREDIT on their Federal IRS Tax Return. The credit is capped at $2000 annually and any remaining mortgage interest not included as part of the TAX CREDIT is still eligible for the home mortgage interest deduction on their federal tax return.

Each year, a homeowner may claim a dollar-for-dollar reduction of income tax liability on 50 percent of the mortgage interest on their first mortgage, reducing the amount of federal taxes owed by as much as $2000."

If you or anyone you know if considering a home purchase & IS A FIRST TIME BUYER (THIS TYPICALLY MEANS YOU HAVE NEVER PURCHASED OR HAVE NOT OWNED A HOME FOR 3 YEARS) just let me know and we can connect you with a lender that is offering the program.  It can go in conjunction with all types of loans like FHA, VA, Conventional or even USDA.

If you are not a 1st Time Buyer please still pass this info along as it could means significant savings for many years for someone else...

Have a good afternoon and let us know how we can help.

Standing by,


Robert A. Crecelius P.A.
First Coast Home Hunters Team of
All Real Estate Options, Inc
PH: 904-502-3014
Fax: 904-458-8975

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