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Form 1098-MA, Mortgage Assistance Payments #usbank #home #mortgage

#federal mortgage assistance


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Form 1098-MA, Mortgage Assistance Payments

This form is used to provide information to the IRS and to homeowners regarding:

  • mortgage payments made by the homeowners, and
  • mortgage assistance payments made by you with funds allocated from the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (HFA Hardest Hit Fund).

Current Products

Recent Developments

Other Items You May Find Useful

Form 8809. Application for Extension of Time To File Information Returns

Comment on Form 1098-MA

Use the Comment on Tax Forms and Publications web form to provide feedback on the content of this product. Although we cannot respond individually to each comment, we do appreciate your feedback and will consider all comments submitted.

CAUTION: We cannot respond to tax-related questions submitted using this page. Instead, please see our Tax Law Questions page.

Page Last Reviewed or Updated: 17-Dec-2015

First-Time Homebuyer #find #a #mortgage

#federal mortgage assistance


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  • First-Time Homebuyer

    The Keys to Getting Your First Home

    Unlock your dream home with special
    savings for the first-time buyer.

    The thought of buying a home can be overwhelming for anyone, particularly for first-time buyers. Navy Federal Credit Union’s staff of trained mortgage professionals is here every step of the way to guide you through the process. Our special offers, low rates and no-money-down mortgages can get you in your first home for less.

    We’ve bundled together the best options to help simplify the process and save you money with our First-Time Homebuyer package. Take advantage of 100% financing options 1 with our fixed- and adjustable-rate mortgage options.

    • No down payment necessary
    • Free real estate assistance and up to $5,050 back after closing with RealtyPlus 2
    • No Private Mortgage Insurance (PMI) on many loans, saving you hundreds in monthly payments
    • Free Rate Float/Lock options allowing you to lock in an interest rate at contract and lower it if rates drop prior to closing
    • Rate match 3 if you find a better rate somewhere else, we’ll match it! If we can’t,
      we’ll pay you $1,000!

    Choosing a Mortgage

    Wondering what the best loan option is for you? Here are a few key things to consider:

    1 Product features subject to approval. Available for purchase loans only. Loans are subject to additional funding fee which may be financed up to max loan amount.

    2 Cash back from $400 to $5,050 is available in most states. You must register with RealtyPlus before contracting a real estate agent and be represented by the assigned RealtyPlus real estate firm at closing to qualify. Standard listing fees apply. Contact RealtyPlus for terms and conditions.

    3 Special offer available for purchase and refinance first mortgages. Certain product exclusions may apply. You must lock your rate with Navy Federal prior to submitting rate match request to qualify for this offer. Loan Estimate from competing lender must be dated and received within 3 calendar days of locking your interest rate at Navy Federal. Please note that other documentation used to show competitors terms will not qualify for offer. The terms of the competing loan must be identical to Navy Federal’s loan. For example, a 30 year fixed rate product with mortgage insurance is not identical to a Navy Federal 30 year fixed rate product that does not have mortgage insurance. If the loan does not close within the commitment period, the rate match may be voided. NOTE: The initial Loan Estimate from a wholesale lender/broker is not an acceptable document for a rate match submission unless the Lender Information section on the Loan Estimate is completed. To receive $1,000, you must provide a signed, executed copy of the final Closing Disclosure and a copy of the mortgage note within 30 calendar days of your loan closing with the original competing lender. Offer not valid if original loan terms or conditions change prior to closing. Once approved, $1,000 will be automatically deposited into your Navy Federal account within 30 calendar days of receiving the necessary documentation. Recipient is solely responsible for any personal tax liability arising out of this incentive.

    Since 1933, Navy Federal Credit Union has grown from seven members to over 6 million members. And since that time, our vision statement has remained focused on serving our unique field of membership:

    Be the most preferred and trusted financial institution serving the military and their families.

    About Navy Federal

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    + Rates are based on an evaluation of credit history, so your rate may differ.

    ++ Rates are variable and based on an evaluation of credit history, so your rate may differ.

    *Message and data rates may apply. Terms and Conditions are available.

    USA PATRIOT Act Information

    To help fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account, including joint owners.

    What This Means For You
    When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you.

    Government Mortgage Help – Government Mortgage Help #free #mortgage #calculator

    #government mortgage help


    You may often hear your friends and family saying that owning a home is great for your taxes. What do they mean? When you own a home the property taxes and mortgage interest are often tax deductible. Many consumers will experience a large tax refund every year as a result of having these two large expenses as tax write-offs. Rent is usually never tax deductible. Of course this is a subject you should always discuss with your accountant.

    But there is a better way to get a refund that is often overlooked by most consumers. When the government issues you a refund check they have in effect held your money for over a year and paid you no interest. (A financial planner in Dartmouth recently told me that 90% of Americans over pay their taxes each year.) You can instead (with your accountants help) amend your w-4 form and get this money coming back to you in each and every paycheck. You can then use this money to help pay your mortgage payments.
    As an example, let’s say that owning a home provides you with a tax refund of $2,400. You can instead change your w-4 form to get back $200 more each month in your paychecks which you can use to help make your mortgage payments. You will not get it back as a refund. With your accountants help you should adjust your w-4 form so that you do not owe any money at the end of the year nor do you get any back. Instead you are using this money every month to help with your expenses.

    Works great for First time home buyers!

    I recently helped first time home buyers in New Bedford use this method and they now own a single family home in Acushnet. Each borrower increased the amount of their take-home pay and they are able to comfortably afford their mortgage payment. At first they were concerned about affordability and in which neighborhoods they would be able to search for a home. After my consultation and their efforts with their accountant, they are happy to stay in the south coast communities which they love! They also qualified for maximum financing enabling them to put very little money into the transaction. Oh, by the way they can’t wait till next summer to take full advantage of their new swimming pool.

    Many times folks don’t realize the opportunities they can have. Some concerns may be more challenging than others, but with the help of experienced and knowledgeable professionals, you to can have the government help you pay your mortgage payments in New Bedford and the surrounding communities of Acushnet, Fairhaven, Dartmouth, Westport or anywhere else that you may like to live

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    Calculate Your Mortgage Payments w #jumbo #mortgage

    #mortgage amortization calculators


    Mortgage Calculator

    A mortgage amortization calculator shows how much of your monthly mortgage payment will go toward principal and interest over the life of your loan. The loan calculator also lets you see how much you can save by prepaying some of the principal.

    How to use the loan amortization calculator

    With’s home loan calculator, you enter the features of your mortgage: amount of the principal loan balance, the interest rate, the home loan term, and the month and year the loan begins.

    Your initial display will show you the monthly mortgage payment, total interest paid, breakout of principal and interest, and your mortgage payoff date.

    Most of your mortgage loan payment will go toward interest in the early years of the loan, with a growing amount going toward the loan principal as the years go by – until finally almost all of your payment goes toward principal at the end. For instance, in the first year of a 30-year, $250,000 mortgage with a fixed 5% interest rate, $12,416.24 of your payments goes toward interest, and only $3,688.41 goes towards your principal. To see this, click on “Payment chart” and mouse over any year.

    Clicking on “Amortization schedule” reveals a display table of the total principal and interest paid in each year of the mortgage and your remaining principal balance at the end of each calendar year. Clicking the “+” sign next to a year reveals a month-by-month breakdown of your costs.

    Click “calculate” to get your monthly payment amount and an amortization schedule.

    The effect of prepayments

    Now use the mortgage loan calculator to see how prepaying some of the principal saves money over time. The calculator allows you to enter a monthly, annual, bi-weekly or one-time amount for additional principal prepayment.To do so, click “+ Prepayment options.”

    Let’s say, for example, you want to pay an extra $50 a month. Using the $250,000 example above, enter “50” in the monthly principal prepayment field, then either hit “tab” or scroll down to click “calculate.” Initial results will be displayed under “Payment details,” and you can see further details in either the “Payment chart” or “Amortization schedule” tabs.

    You may also target a certain loan term or monthly payment by using our mortgage prepayment calculator. Of course you’ll want to consult with your financial advisor about whether it’s best to prepay your mortgage or put that money toward something else, such as retirement. has developed a host of other free mortgage calculators to help answer your other questions, such as, “Can I qualify for a mortgage,” “Will prepaying my mortgage help me save money,” “How large of a down payment do I really need,” “What s the best way to pay for my refinance,” and “When will my home no longer be underwater?” See all of’s mortgage calculators .

    This is the dollar amount of the mortgage you are borrowing. (Hitting “tab” after entering information in any field will automatically update the calculations.)

    The loan’s interest rate. Along with the term, this is the key factor used by the mortgage payment calculator to determine what your monthly payment will be. To see where rates are right now, click on the “See today’s average rates” link to the right of the field, where you can also find offers from our advertising partners.

    Mortgage loans come in a range of terms. Fixed rate mortgages are most often found in 30, 20, 15 and 10-year terms; Adjustable Rate Mortgages usually have total terms of 30 years, but the fixed interest rate period is much shorter than that, lasting from 1 to 10 years.

    To get the most accurate calculations, use the month and year in which your very first mortgage payment was due (or will be due). If you don’t yet have a mortgage, the current month and year will work just fine.

    This display shows the monthly mortgage payment, total interest paid, breakout of principal and interest, and your mortgage payoff date.

    This display shows you the total principal and interest paid in each year of the mortgage and your remaining principal balance at the end of each calendar year.

    While this display table also shows you the total principal and interest paid in each year of the mortgage and your remaining principal balance at the end of each calendar year, clicking the “+” sign next to a year reveals a month-by-month breakdown of your costs.

    In this optional section, you can add in a regular monthly prepayment amount, re-set the calculator to show bi-weekly payments and savings, or even do a one-time prepayment to see how it affects the cost of your home loan.

    Mortgage help – Consumer Financial Protection Bureau #home #loans #calculator

    #government mortgage help


    Mortgage help

    First thing’s first: There is free foreclosure help. If anyone tries to charge you in advance for help or guarantees that they can stop your foreclosure, they’re not legitimate.

    If you’re behind on your mortgage, or having a hard time making payments, we want to get you in touch with a HUD-approved housing counselor they ve been sponsored by the U.S. Department of Housing and Urban Development. Your counselor can develop a tailored plan of action for your situation and help you work with your mortgage company. They’re experienced in all of the available programs and a variety of financial situations. They can help you organize your finances, understand your mortgage options, and find a solution that works for you.

    Find a counselor

    Get a list of HUD-Approved Counseling Agencies in your area.

    (800) 569-4287

    Call HUD, enter your ZIP code and they ll refer you to a counselor near you.

    Housing Finance Agencies listed by state.

    Submit a complaint

    Submitting a complaint won’t automatically stop or delay foreclosure, but we will forward your issue to the company to get an answer about what they’re doing or going to do about your case. We also publish which companies get the most complaints, and about which types of problems people are having with them.


    Islamic Mortgages: Islamic Mortgages #online #mortgage #application

    #islamic mortgage


    A ‘Salaam-u-Allaikum

    Islamic Mortgages is the UK’s most recommended website on islamic mortgages, which provides details of all the current Muslim, Halal, Shariah compliant mortgage / finance products available within the UK.

    The site provides the visitor with FREE information on Islamic finance, compares relevant products at a glance, and put you directly in contact with the financial institution / lender.

    Islamic Mortgages information website is the leading resource for all those looking for Islamic Finance solutions. We provide a comprehensive analysis of all Shariah Law compliant Islamic mortgage products available within the UK. 40,000 Muslim families/households take out conventional mortgages every year (new mortgages and remortgages); of these, Muslims pay each year approximately 4 billion in interest on house mortgages alone.

    This may be multiplied many times to include interest paid out in business loans, personal loans, overdrafts, hire purchase etc. Why continue to do this, when there are real Shariah compliant alternatives in the UK; we can help guide you through thus and inshahallah give you a riba free peace of mind.

    This Islamic mortgage website provides the visitor with FREE information access, compares relevant Islamic Banking products at a glance and puts you in direct contact with all Islamic Lenders at the click of a button. We can also arrange for a free quote for Islamic Insurance and Islamic Conveyancing.

    Inshallah you will find what you are looking for.

    Good luck with your search.

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    Government schemes for first-time home buyers and existing homeowners – Money Advice Service #mortgage #rates

    #government mortgage help


    Government schemes for first-time home buyers and existing homeowners

    There are a number of government schemes to help you buy a home such as Help to Buy, Right to Buy, Shared Ownership, and more. Find out more about these affordable housing schemes and how to apply.

    Help to Buy

    Help to Buy is a government scheme for those who have a small deposit, when buying a home. Have you at least a 5% deposit? If so, you could use the Help to Buy scheme through:

    • Equity loans – available to first-time buyers and existing homeowners who want to buy a ‘new build’ house. The purchase price must be no more than £600,000.
      Under this scheme, you can borrow 20% of the purchase price interest-free for the first five years as long as you have a 5% deposit.
      If you live in London, you can borrow up to 40% of the purchase price.
      The scheme is available until 2021.
    • Mortgage guarantees – available for new and old properties across the UK. The government undertakes to cover any of your mortgage lender’s losses as a result of any problems you might have in paying it back. However, you are still responsible for keeping up your mortgage repayments on a Help to Buy scheme in exactly the same way as any other mortgage.
      The scheme is open until 31 December 2016.

    With both schemes there are limits on the cost of the property you buy. These limits differ across the UK.

    Right to Buy/Right to Acquire

    Right to Buy is for tenants in England, Wales and Northern Ireland who rent their home from their local council. It allows tenants, who qualify, to buy their home at a discount. The size of the discount varies depending on where you live and the type of property you want to buy.

    Tenants who were living in council homes before it transferred to another landlord such as a housing association, may be eligible to buy their home under the ‘Preserved’ Right to Buy or Right to Acquire schemes.

    In most cases, tenants will need to have rented from the public sector (i.e. local council or housing association) for three years before they can buy under these schemes.

    The three years can be non-consecutive, so tenants who have rented from the private sector in the middle of a total of three years renting from the public sector, can still qualify.

    In 2016, the Right to Buy scheme is getting extended to include housing association tenants in England.

    This extension is starting out with a small number of housing associations in certain areas. It will then be rolled to the rest of England over the year. For more information, visit the Right to Buy website .

    In Scotland. the Scottish Government plans to end the scheme for all council and housing association tenants in Scotland, but there are other schemes available .

    Right to Acquire is a scheme offered in England and Wales for housing association tenants who don’t qualify for Right to Buy. The discounts are slightly smaller.

    In Northern Ireland this scheme is called the House sales scheme and is for tenants who rent from the Northern Ireland Housing Executive or a housing association. Find out more on the nidirect website .

    Shared ownership

    Shared ownership is where you buy a share of a home from the landlord, who is usually the council or a housing association, and rent the remaining share.

    You need a mortgage to pay for your share, which can be between a quarter and three-quarters of the home’s full value. You then pay a reduced rent on the share you don’t own and you have the option later on to buy a bigger share in the property up to 100% of its value.

    The eligibility restrictions on the shared ownership have lifted. So, from April 2016 anyone who has a household income of less than £80,000 (outside London) or £90,000 (inside London) can buy a home through shared ownership.

    Only military personnel will be given be priority over other groups. The scheme will apply across England.

    Co-Ownership in Northern Ireland

    This scheme is exclusive to Northern Ireland and is available for both newly built and older homes. You buy between 50% and 90% of the property (known as the ‘starter share’) and can increase that share at any time (known as ‘staircasing’). You pay rent on the portion you don’t own.

    First Steps London

    This scheme aims to help low and modest income earners buy or rent at a price that’s affordable. You part buy and part rent the property – mostly for newly-built homes but some resale properties are included. There are eligibility criteria around earnings and you can’t buy a home on the open market.

    If you’re looking in London, find out more on the First Steps website .

    Shared equity schemes

    The Help to Buy equity loan scheme is a government scheme currently set to run until 2020. It’s available to first-time buyers as well as homeowners looking to move – but only for newly built homes.


    Scotland has two shared equity schemes – New Supply Shared Equity and Open Market Shared Equity.


    The Homebuy scheme offers help by providing an equity loan (30% increasing to 50% of the purchase price), and is designed for people who would otherwise need social housing. The loan can be repaid at any time before the property is sold, but if you sell the property then it must be repaid at that point.

    Find out more about Welsh home buying schemes at the Wales Government site .

    Northern Ireland

    There’s an Equity sharing scheme in Northern Ireland where you can buy a property, often at a discount, with a housing association or the Northern Ireland Housing Executive (NIHE).

    Starter Home scheme

    The Starter Home scheme is a new government plan where 200,000 new build homes are available to first-time buyers under 40 years old with a minimum of 20% off the market price.

    The discounted price for these homes should be priced no more than £250,000 outside London, and £450,000 in London.

    For more information about the homes available in this scheme, visit the New Homes website .

    Next steps

    Use the Mortgage payments calculator to estimate the monthly interest and repayment amount.

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  • Mortgages Dubai; Home Loans – Financing; Dubai – Mortgage International #calculator #for #mortgage

    #international mortgage


    With so many banks in the market offering many different mortgage options it is essential to get
    the right advice from an independent source to ensure you get the best possible mortgage facility.

    Mortgages for Refinance

    We understand that many clients have existing mortgages and are perhaps paying a higher rate of interest now than initially agreed or compared to current rates. In this situation we can research the entire market in one place.

    Mortgages for Equity Release

    Releasing equity from your property can be a very good way of helping fund home improvements, further property purchase and repay more expensive lending while allowing you to draw capital tied up in property.

    About Us

    Services Solutions

    Established in 2006 Mortgage International is the leading mortgage solutions provider in the UAE. With a management team with over 30 years experience in the industry you are assured of the highest level of service throughout the entire process.

    MI has partnered with all of the leading mortgage providers in the UAE and overseas to offer a fully independent and impartial service. MI has a team of highly knowledgeable consultants who are experts at finding exactly the right mortgage to suit your requirements.

    Getting into a contract with a lender that is not perfect for your needs will cost you thousands and possibly millions over the course of the loan. Mortgage International are here to ensure that you get the best!

    Online Mortgage Lenders Are Beating Traditional Bank Loans #calculate #a #mortgage

    #online mortgage companies


    Online Mortgage Lenders Are Beating Traditional Bank Loans

    NEW YORK (MainStreet) — Traditional bank mortgages are losing ground to nonbank lenders, especially in cities with a hot housing market.

    Seth James Ellis, 33, and his husband, Jared Ellis, 32, along with a third investor turned to Social Finance, Inc.. a San Francisco-based online lender, for a jumbo mortgage to purchase a $1.1 million, three-bedroom duplex in Berkeley, Calif.

    ”We didn’t expect to get this house, ” said Seth James Ellis, who works as a fundraiser in the Bay Area. “The emotional feeling in this market is that you’re never going to get the house that you want, because someone is going to come in with a higher cash offer.”

    Non-traditional, non-bank lenders, such as SoFi as the online lender is commonly called. offer less conventional underwriting for residential mortgages and typically a shorter period to close because of the design of the loans, mortgage experts say.

    ”Your offer is as good as a cash offer in terms of the speed, and that was very important to us as a competitive advantages,” Ellis said in terms beating out other buyers in a sellers’ market.

    The Ellis couple and their third-party investor closed on their Bay Area home within 15 days — a much shorter timeframe than the typical 30 to 45 days undertaken by traditional bank lenders.

    ”Traditional services are often slow and unresponsive and they cause a problem for some borrowers,” said Gregory Garrabrants, CEO and president of Bank of Internet USA (BofI), who adds a slow response time could cause borrowers to lose the ability to purchase a particular home.

    Smaller and nonbank lenders are often not subject to the same federal safety and oversight that apply to larger traditional banks, such as Citigroup (C ) or Wells Fargo (WFC ). according to the Federal Housing Financial Association.

    The FHFA reports that nonbank lenders have increased their share of overall mortgage originations in recent years. Inside Mortgage Finance. a publication that tracks mortgage data, estimates that nonbank lenders accounted for 37.7% of mortgage originations in the first quarter of 2014 — an uptick of 26% from the same quarter in the previous year.

    Only five of the top 20 mortgage originators in 2006 are still active in today’s mortgage market, according to a recent Fannie Mae report.

    Online lenders are changing the mortgage experience in the rapid sharing of information on mobile and online, said Bob Walters, chief economist at Detroit-based lender Quicken Loans .

    ”These lenders are not bound by geography or a brick-and-mortar network,” Walters said. “[They] look to gain the broad base that the internet brings,” Walters said.