RE: The Tax Credit has NOT been extended YET.

RE:THE TAX CREDIT HAS NOT BEEN EXTENDED! Pardon the shout..

I found several articles about tax credit extension. Some says it has not been extended, others that is has been extended. I believe that some were published before and other after the fact. For your clarification, there is no better place to look than the IRS SITE.

I also wanted to share this video about the legislative process...

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FHA-insured Loans an alternative for First Time Homebuyers

As Economic conditions change, the monetary policies are provided to reshape the supply and demand in order to stimulate the economy as needed. The Federal Reserve System is the one who regulates the flow of money, however, the primary mortage market is where the borrowers interact with lenders. Credit Unions, Mortgage Banking companies and Mortgage Brokers are some lenders withing the primary mortage market.

People who do not have the customry twenty percent down payment can benefit of liberalized mortgage loans that are sponsored by The Federal Housing Administration , the Department of Veterans Affairs, the Pennsylvania Housing Finance Agency and others local communities reinvesment programs.

FHA Loans have been available since 1934 and are avilable for first time homebuyers that do not have a lot of money to put down on a house, want to keep low monthly payments and may have some credit problems. FHA-insured loans have a low downpayment ( 3.5%) and money can come from a family member.

Lenders are more willing to provide you with a loan because FHA insures your mortgage. An FHA approved lender can help you start with the process of your loan, FHA does not give money to people and does not set the interest rates on the mortgages insured by them.

For more information about The Federal Housing Administration visite their site by clicking HERE!