Home prices have fallen slightly in the Pearland and Greater Houston area, the government has given us the $8,000 First Time Home Buyer Tax Credit, interest rates are at record lows, and if that isn't enough incentive to buy a home right now......

According to Southeast Texas Housing Finance corporation, the following counties and cities are eligible for a $10,000 First Time Home Buyer assistance grant: Austin County, Matagorda County, City of Huntsville, Wharton County, City of Pearland, other cities and counties are also included. Please check with SETH(SouthEast Housing Finance) for more details at www.SETHFC.com.

As if a one time $8,000 First Time Home Buyer tax credit isn't enough, there is another tax credit that lasts up to 30 years. Yep. 30 years. The tax credit is good for up to $2,000 per year for the life of the loan. Here is how it works. An MCC provides eligible homeowners a tax credit based on the interest paid annually on their mortgage loan.

For example: $100,000 loan @ w/6% interest rate

Pays: $6,000 interest on their mortgage the 1st year
Receives: MCC providing a 30% tax credit
Equals: $1,800 tax credit ($6,000 x .30)
This tax credit is only available to homeowners using the
MCC program and will be received for the life of the loan.

The beauty of it is that it is available to everyone, even if they are not First Time Home Buyers and the income limit qualifications are pretty liberal. For more information on this program, click on this link: MCC Tax Credit Program.

Meet the blogger:

If you don't already know, my name is Ozzie Ramirez. I grew up in Pearland, Texas and my family has been calling Pearland home for more than 50 years. I love working in real estate and nothing makes me happier than helping someone get an awesome deal on a home purchase. In the past few years I have noticed a common thread within the homeowners that have found themselves victim of foreclosure. I do realize that soemtimes uncontrollable situations can force foreclosures, such as job loss, or illnesses, etc. For the rest of the foreclosures had more to do with lack of education as it pertains to real estate and buying a home. My philosophy is that an educated consumer equates to a satisfied consumer. With that being said, I created this web site and wrote this blog in hopes that I could educate at least one person and help them to complete a satisfying real estate transaction or avoid an unsavory transaction. Then, I have accomplished my goal.