First-Time Home Buyers - News, Weather, Sports, Toledo, OH

First-Time Home Buyers

$1,000,000 Million dollar challenge

Over 20 Companies Help put $1,000,000 Back in to the Local Community.
By Shane Marzullo, Owner
Greentree Mortgage Services, Inc.

Toledo, OH - According to the National Association of Realtors 50% of home sales are to first time home buyers.  Merely 42% of these first time home buyers are knowledgeable about the $8000 tax credit.  In response to this statistic, over 20 companies have joined together to educate first time home buyers about this opportunity, which if successful will put $1,000,000 back in to the local Toledo market.   

There will be a First Time Homebuyer Seminar on September 19th, at the Maumee Public Library. The main objective of this seminar is to inform potential new home buyer about this $8000 tax credit.  Shane Marzullo, Owner of Greentree Mortgage Services, Inc. and organizer of the First Time Homebuyer Seminar states, "If we can get 125 new home buyers to buy a home before November 30, 2009, the cutoff date for this program, they could qualify for up to $8000 from the federal government.  That will generate $1,000,000 back into the local economy; something Toledo could use right now."

Most first time home buyers will have to purchase appliances, furniture, carpeting, and the list goes on.   Not only will this money go toward those household purchases and stimulate our local economy, but it will decrease the abundant inventory of empty homes and homes that have been on the market for a while. 

Homes on the market are now 30% more affordable then they were three years ago and rates are still very low.   Home affordably is the highest it's ever been and first time home buyers have options when purchasing their home.  There are many different types of loan programs available, including "low" and "no" down payment mortgage programs. These programs require the borrower to provide less than 3.5 percent of the loan amount as down payment. FHA lenders rule that the mortgage payment, including principal, interest, taxes and insurance (PITI) should not exceed 31 percent of your gross income, and the PITI plus other long-term debt (car payments, etc.) should not exceed 43 percent of your gross income.  This an many other items will be addressed at the seminar.

Rewards of home ownership are great. For many years, purchasing real estate has been considered an extremely profitable investment. It is an achievement that offers a sense of pride, financial stability and potential tax advantages.  If you are a renter and feel that "home" is more than just some place to hang your hat, think about the advantages of purchasing real estate and join in the Million Dollar Challenge. 

Attend the First Time Home Buyer Seminar on September 19th, at the Maumee Public Library 501 River Rd., at 11:30am to 1pm.  The topics of the seminar will be the following:  Real Estate Market Overview, Loan Qualification, Credit Repair, Financing ($0 down and low down payment loans), $8,000 Tax Credit, and Seller Paid Closing Costs. Seating is limited. To reserve your seat at the next event, call 419-861-9008 or go to

It may be time to take the step into building your personal net worth as a home owner.

Home Buyer's Seminar is open to the public on September 19th at Maumee Public Library, 501 River Rd, Maumee, OH 43537 from 11:30 a.m. to 1:00 p.m. Seating is limited. To reserve your seat at the next event, call 419-861-9008 or go to  to RSVP.

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