Pricing Just Reduced in Royal Meadows!!

Pricing was just reduced in Royal Meadows - hasn't yet hit MLS! Find BRAND NEW HOMES as low as $102,240 - all homes reduced AT LEAST $5,000 - $15,000!!

Contact the Nampa Square One for more details. 442-8474

IHFA's Down Payment Assistance Tax Credit has been approved!

IHFA’s Down Payment Assistance Tax Credit Advance

The American Recovery and Reinvestment Act of 2009 provided a federal income tax credit for first-time homebuyers of 10% of the sales price, up to a maximum of $8,000. This tax credit is available to qualified home buyers who purchase a home by December 1, 2009. In order to help buyers monetize this tax credit for down payment and closing costs when they purchase a home, Idaho Housing and Finance Association (IHFA), through its IdaMortgage lending program, is offering a special short-term Tax Credit 2nd Loan to qualified buyers.

In conjunction with an IdaMortgage loan, a subordinate loan will be offered to qualified first time homebuyers in the amount not to exceed 5% of the sales price or $7,000. A fee will be charged of $250 with $150 refunded upon repayment of the loan on or before the loan due date. The loan will accrue interest at 3.0% with a due date of July 1, 2010. The Tax Credit 2nd Loan is expected to be paid off from the borrower’s tax refund obtained through the application of the federal tax credit. If the homebuyer defaults on the loan and cannot repay at that time, IHFA has the option of pursuing foreclosure as described in the deed of trust, or modify the loan to amortize over the remaining term of the first mortgage loan at an interest rate of 3% higher than the first mortgage rate.

Borrower qualifications are:
1) Must be a first time homebuyer,
2) Must have a FICO score of no less than 640, and a total debt ratio of no more than 45%,
3) Homebuyer qualifies for an IdaMortgage loan.

Also, we continue to offer IdaMortgage’s Good Credit Rewards program that helps qualifying borrowers purchase their home. This 2nd mortgage program is available for down payment and closing costs. Here is a list of Good Credit Reward Qualifications:
Homebuyers with less than 140% of area median income can now qualify for IdaMortgage's 30-year fixed rate down payment and closing costs assistance second mortgage program. The down payment assistance loan must be combined with an IdaMortgage product. The second mortgage will be offered at 1 to 2% above IdaMortgage's standard interest rate.

The Good Credit Rewards down payment and closing cost assistance second mortgage interest rates are tiered by credit score:
· Interest rate is 1% higher than mortgage rate of the first mortgage for borrowers with credit scores of 720 or higher.
· Interest rate is 2% higher than mortgage rate of the first mortgage rate for borrowers with credit scores of 700 to 719.
· Maximum amount of second mortgage is capped at 3.5% for all loan programs, not to exceed 100% combined loan-to-value, or the maximum approved by mortgage insurance guidelines.
· Homebuyer education is required for buyers with credit scores lower than 720.
· Borrowers with credit scores of lower than 700 will not be able to obtain this second mortgage.
· Borrowers must contribute at least $500 towards the transaction, or higher depending on Mortgage Insurance requirements.
· Good Credit Rewards funds are based on need. Borrowers cannot have more than an equivalent of three month’s payments in liquid assets after closing.

Provided by: Idaho Housing and Finance Association

Just Reduced!

Just reduced today…

The “Huntington” in Meriwether Park
One of our most popular floor plans, the Huntington has a lot of room to spare with 4 Beds, 2.5 Baths and 2,470 sq. ft. The main level features a spacious kitchen opening up to the nook and family room. All four bedrooms are
located upstairs, including the huge master suite with a massive walk-in closet and master bath that features a dual vanity and a separate shower/tub.

7973 E. Toussand Drive, Nampa - Lot 3, Block 3
Call 442-8474 or visit us for more details!

Get Your Taxes Done for Free - Saturday, March 21st!

Thinking about buying a home? Know anyone who is thinking about buying a home?

Yell it from the rooftops that this Saturday, March 21st, we are having FREE TAX DAY at CBH from 11-3:00 pm. For anyone who purchases a home March 21st - March 28th, we will get your 2008 tax returns prepared FOR FREE!

What to expect on Saturday...

*Learn how to get $8,000 in FREE MONEY
*Tax refund loan available in as little as 24 hours
*Learn how to use your tax refund for a down payment
*BBQ, reshreshments and a JUMPY for the kids

Even if you aren't 100% positive you want to purchase right now - come out, have some food, play in the jumpy, and learn about all the ways CBH will help you not only find the perfect home, but make it happen!

Call us at 442-8474 to set up an appointment and we'll see you Saturday!

CBH Homes
1977 E Overland
Meridian, ID 83642