Austin Real Estate Team Selling Homes, Condos, Investment Properties and Real Estate Listings

Time To Declare Your HOMESTEAD!

February 6, 2012 By Jarrod Weaver

If you purchased a home in 2011 (or before) and haven’t yet declared your HOMESTEAD EXEMPTION, it is time to do so.

Last September a state law took effect that changed the proof of residency requirements for homeowners applying for the property tax homestead exemption. The new law required applicants to provide a copy of their Texas driver’s license or state ID card and vehicle registration receipt. The documents had to show the same address as the property for which the exemption is requested.

Applicants who do not own a vehicle must provide a copy of a utility bill with the correct address. They must also provide an affidavit stating he or she does not own a vehicle.

The new requirements also apply to applications for the over-65, disability, disabled veterans, homeowner’s surviving spouse and manufactured (mobile) home exemptions. They do not apply to homeowners who already have homestead exemptions.

So, before you make the application with the county, make sure that your driver’s license is updated!

VA Mortgages Fees are Falling

September 16, 2011 By Jarrod Weaver Leave a Comment

On October 1st VA mortgage regulations will change, reducing the cost for veterans securing a home loan. The VA funding fee will drop from 2.15% to only 1.4%. If the veteran contributes a 5% down payment the funding fee will drop to 0.75% and with 10% down only 0.50%.

If the veteran has any disability the funding fee can be waived all together.

Eligible borrowers need to strongly consider purchasing a home. With the reduced borrowing costs, historically low home prices and incredibly low interest rates homes are less expensive now than they are likely to ever be.