Tax Credit Extended for Military Personal

Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.

Call
Vince Bacchi
Your Personal Mortgage Banker
(910) 352 6562
union-mortgage@atmc.net

Great Deal On Construction-Perm Loans

Mortgage bonds rebounded, a little, today after a wild ride. Make no mistake, the Fed will end the purchase of MBS on Wednesday, 3/31. Bernanke also indicated that the Fed would switch sides and become sellers of MBS VS the buying mode they have been in for over a year. This could have upward pressure on rates.


We have one of the best deals on construction-perm loans in the market. We will lend 80% on second and primary home construction and we lend our money up front. Neither the builder or the buyer has to put there money in the transaction, until the home is completed.

A buyer can also buy the lot with the construction loan as long as the entire process is completed in 1 year.

Quick builder approvals and great terms during construction. Call or e mail Vince Bacchi for details.  910 352 6562 or union-mortgage@atmc.net

Tax Credit Extended for Military and Others to April 30, 2011

Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.
Call Vince Bacchi
(910) 352 6562

Now is the Time to Purchase an Investment Property

This week’s wild ride on Wall Street has been great for something.  Mortgage rates remain very low.  Both long term fixed as well are ARMs are at very attractive prices.  This cannot last.  If stocks rebound we will see rates increase.  But there are definitely some advantages.

Not only is it a great time to buy a primary or second home but pure investment properties are a wonderful deal.

A buyer may even get an investment property to cash flow…how novel.  For example, if someone with good credit (+740) were to buy an investment home (rental) with 25% down, they could get into a 30 year fixed at 5.25% plus 1% origination fee.  On a purchase price of $150,000 with 25% down and a loan of $112,500 at 5.25%, the P&I payment is $621.  With taxes and insurance, the owner will make money on his (her) investment, immediately. 

  Our people are the best in the business and they help make closing loans very smooth.  Please give me a call and find out what top notch service is all about.  

Vince Bacchi

910 352 6562 cell