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Altadena Real Estate |
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Welcome to La Verne REMAX — your source online for La Verne CA real estate. Whether you’re buying, selling, or just want to browse the REMAX MLS listings, you’ll find something useful here. We’d love to tell you more in person about the homes and condos in La Verne. Save yourself time and money — call us today: 1-626-296-2900
Search for La Verne REMAX California Homes and Condos
REMAX Homes for sale in La Verne
This site also offers insider information on new REMAX and other broker home listings in La Verne and many surrounding communities, designed to give you an idea of the local market. We are REMAX Real estate brokers and sales agents we have a thorough knowledge of the real estate market in La Verne – La Verne CA. Area. We know which neighborhoods will best fit our clients’ real estate needs and budgets. We are familiar with local real estate zoning laws and know where to obtain financing. We are Realtors and brokers and act as intermediaries in price negotiations between buyers and sellers. Also may help to arrange favorable financing from a lender for the prospective buyer; often, this makes the difference between success and failure in closing a sale..
If you’d like more information about REMAX La Verne real estate or our services, please don’t hesitate to contact us. We’re happy to answer all questions, big or small.
Pasadena Real Estate
With certain exceptions, a first-time homebuyer will receive a tax credit of 10% of the purchase price up to $7,500 maximum, for the tax year in which the buyer purchases a principal residence. The tax credit, however, must be repaid like an interest-free loan in equal installments over the next 15 years or in full if the homebuyer sells the property for a gain. A buyer qualifies as a “first-time” homebuyer as long as the buyer (and spouse if any) has not owned a principal residence in the U.S. for the last three years. The tax credit phases out for a taxpayer with a modified adjusted gross income over $75,000 (or $150,000 for joint returns). This tax credit is available for qualifying homes purchased from April 9, 2008 through June 30, 2009.
Learn MoreUnder the HOPE for Homeowners Program, 400,000 distressed homeowners can pay off their troubled mortgages and replace them with more affordable, FHA-insured loans. To qualify, a borrower’s monthly payment on existing mortgage loans must be over 31% of his or her income as of March 1, 2008 (hence demonstrating the borrower’s inability to afford the original loans). The original loans must have been originated before 2008, and secured by the borrower’s principal residence (as well as only residence). Also to qualify, the borrower must satisfy FHA underwriting requirements for the new FHA-insured refinance loan.
The FHA refinance will be a fixed rate loan up to $550,400 for at least 30 years, and will include charges for FHA insurance premiums. The maximum loan-to-value ratio of the FHA refinance is 90% of the appraised value. If the refinance proceeds are insufficient to pay off the existing liens, the refinance will not go through unless the original lenders voluntarily agree to accept a short payoff as payment in full. Rules will be established to allow, among other things, equity sharing for the original junior lienholders.
Upon obtaining the FHA refinance, the borrower must share with the FHA at least 50% of any equity realized through a subsequent sale or refinance. The FHA’s share in equity will be based on a sliding scale of 100% of any equity realized within the first year of the FHA loan, 90% the second year, and so on, but not less than 50%. The HOPE for Homeowners Program shall be in effect from October 1, 2008 to September 30, 2011.
Pasadena Real Estate
