by Dan Polimino | Feb 12, 2010 | Buying, Financing, Hawaii Real Estate, Investing
So you are sitting on the sidelines right now missing out of the $8000 First Time Home Buyer Tax Credit because someone at the bank told you that your score was not good enough to buy right now. The banker probably did not provide much more information other than you “need to fix your credit and pay your bills on time” if you want to buy a house.
by Dan Polimino | Feb 5, 2010 | Buying, Financing, Hawaii Real Estate, Investing
Sure, as a new home buyer you are going to get your $8000 tax credit for buying a home (provided you close before the deadlines) and you will begin to “itemize” your tax deductions (real estate property taxes, mortgage interest, and points) going forward each year. All of these can potentially save you allot of money on your federal taxes which one of the many reasons people chose to buy rather than rent.
by Dan Polimino | Aug 24, 2009 | Financing, Hawaii Real Estate
What is the state of lending these days? Does anyone really know? I speak with lenders all the time and I seem to get a different answer or different points of view with each one of them. It’s not that I think they don’t know the answer, but I honestly...
by Dan Polimino | Jul 10, 2009 | Financing
Bank attitudes toward risky lending is making it very difficult for the self-employed, even those with high incomes, to secure mortgages. No-doc loans are particularly hard to get, locking out people whose incomes are derived from investments or who are able to...
by Dan Polimino | Jul 9, 2009 | Financing
Recently a client of my was told by his credit union that he “should not pay any points†on the new mortgage he was taking out to buy a home. The reason the credit union suggested the client not pay points was that it added too much to the cost to the loan. It is...
by Dan Polimino | Jun 15, 2009 | Buying, Financing, Hawaii Real Estate, Selling
The story goes like this: A friends of mine who is a mortgage lender was really upset and was having a horrible week when I called. It turns out that he got involved in a loan transaction for some questionable people (both the buyer and real estate agent). Now, what...
