The size of the real estate brokerage office that handles your
purchase has no effect on the transaction. Also whether
or not the office has a famous franchised name
What is important is the ability and
success record of the individual agent with
whom you contract to represent you.


First time buyer programs.

Currently there is no federal tax credit program in effect. The first one was in 1976 that applied to new construction, not limited to first time homebuyers Most of the tax credit programs work just like this one. If you bought a new house in 1976 that cost $40,000, on April 15th 1977 and you owned $6000 in income tax, the five percent of $40,000 credit reduces you federal tax liability from $6,000 to $4000. That amounted to $167 a month. A significant sum when you look at the payment on a FHA minimum down loan would have been about $375.00 a month. This incentive only helped the homeowner for that first year, but thats exactly what federal tax credits are supposed to do; stimulate the economy.

Washington State Housing Finance Commission is currenlty offering market rate financing plus a tax credit. This is a state program. These programs are not reasons to buy but they are financing alternatives that can help the buyer through the first years of house payment. Call me about this program, it can be tricky to figure out which is the best alternative. Mary Ryan 425 271 8800

Washington State Housing Finance Commision has a House Key Program. Call me about this program. 425 271 8800. You need to be fairly sure you are going to stay in this home for at least nine years. The House Key program uses the proceeds of tax-exempt bonds to provide first-time homebuyers the benefit of a lower interest rate. Should the home financed using the House Key Loan Program be sold or otherwise disposed of within nine years of purchase, this benefit may be "recaptured". May is the key word here. More than a couple of conditions must be in place before you have to "recapture".

Washington State Housing Finance Commission effective August 2011 has a program for newly constructed, never occupied homes at four percent interest.

Some of the lender owned properties that have been foreclosed on have incentives to owner occupants and from time to time they offer specials for first time home buyers.