Posts Tagged ‘80/17 mortgage’

H.R.2801 (First Time Buyer Credit)

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The rumours and speculation surrounding this Bill are getting increasingly shrill and uninformed ranging from:

1. Extension of the credit is a done deal and will possibly even increase the amount to $15,000.

2. It will be changed to apply to deals that are in escrow before the current Nov 31st deadline and close within 60 days more.

3. It’s dead as of Nov 31st.

4. Etc, etc,etc.

The best site i’ve found for intelligent discussion of this is

Scott is a very diligent researcher and reporter on this and more generally 1st time buyer programs.

Great Deals For Education Workers & Staff. CalSTRS 80/17.

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Do you know anyone who works in the education industry and would like to buy a home?

Do you think they would like a normal 80% first mortgage and a 17% 2nd mortgage with no payment requirement,  and no PMI?

CalSTRS is an privately run program designed to provide super financing for home buyers who work in any capacity in our education system. This means everyone from Principal to Janitor in any Public School, Community College, or University.

This link will provide you with a great way to help deserving possible buyers who often cannot afford a traditional mortgage.