ZERO DOWN HOME LOANS - NO DOWN PAYMENT MORTGAGES
If you're a first time home buyer, or you haven't owned a home in the past three years, you may qualify for a zero down home loan program through the Virginia Housing Department Authority. VHDA buyers must earn less than $70,000 per year, have 2 months mortgage payments in their savings account at the time of closing, and be able to provide the past 3 years income tax returns.  This loan program allows buyers to purchase a home for a lot less than it costs to get into a rental and on average, my buyers have purchased a home with just $500 down, bringing very little additional money to the closing table.  If you'd like more information about zero down home loans, including VA loan for veterans, contact any of my preferred lenders for your free credit check. There's no cost or obligation but contact a lender soon, as rates are reportedly going up to nearly 6% by the end of the year. And if rates rise from 5% to 6%, you'll be paying about $130 more per month on a $200,000 mortgage.
http://www.mrtownhome.net/finance.htm

$8,000 TAX CREDIT FOR ACTIVE MILITARY & CERTAIN GOVERNMENT EMPLOYEES
Members of the Armed Forces and certain federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and still qualify for the tax credit. Eligible taxpayers must enter into a binding home purchase contract by April 30, 2011 of next year, and settle on the purchase by June 30, 2011. Certain criteria must be met in order to qualify for this extension so for additional information, please contact your CPA, any of my preferred lenders, or visit the IRS Web page.

If you are able to place 3.5% down payment on a home purchase ($8,750 on a $250,000 purchase), then you may qualify for an interest rate as low as 3.25% using an FHA 5/1 ARM home loan program. The FHA 5/1 can reduce your monthly mortgage payment by about $250 per month on a $250,000 purchase or, it can allow buyers to make their starter home, their dream home!

It's a great time for home buyers and sellers today so if you have any additional questions about the tax credit or the zero down home loan programs, please call or text me any time - my Blackberry is always on!