FOR IMMEDIATE RELEASE:

Guaranteed Rate Chosen Lender of the Year – Again

Chicago,IL. December 5, 2011-For the second year in a row, Guaranteed Rate was voted Lender of the Year by Chicago Agent Magazine. Although there was plenty of stiff competition, local agents, builders and developers agreed that Guaranteed Rate’s straightforward business model structured around its customers is the best of its kind.

“Guaranteed Rate is delighted to be chosen Lender of the Year by the Chicagoland Realtor community.” Victor Ciardelli, CEO and president of Guaranteed Rate states, “We help our Realtor partners succeed in part by offering great mortgage rates and products, but we also go the extra mile by offering several unique and innovative tools to our Realtor partners that help differentiate them from the marketplace.”

Originally opening their operation in Chicago, Guaranteed Rate now covers 43 states with over 70 offices. With their forward-thinking approach and customer-orientated mindset, Guaranteed Rate has become one of the largest and fastest growing independent mortgage lenders in the country, while still keeping a neighborhood vibe.

“Guaranteed Rate’s business model has always placed the highest emphasis on helping our Realtor partners grow their businesses,” continues Victor Ciardelli, “so winning this honor is especially rewarding for us. Thank you again for this award and be assured that Guaranteed Rate will continue to work diligently in the years ahead in helping Realtors succeed in growing their own businesses.”

Media Contact:

Tiffany Cummins

TRC & Associates

(925) 212-4200

The tax break for buying a home was signed by legislation on November 6th and will extend the $8,000 homebuyer tax credit to contracts signed by April 30, 2010 and closed by June 30, 2010. The controversial credit, which many say has boosted home sales in recent months, was set to expire after November 30, 2009.The bill also creates a $6,500 credit for those who buy a home after living in their current house at least five years. That measure would apply to contracts signed by April 30, 2010 and closed by June 30, 2010. The current credit defines a first time homebuyer as someone who has not owned a residence within the past three years.

The bill will raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000 or $150,000 for joint filers.

Bringing the Dream of Homeownership Within Reach

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.

Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.

Who Qualifies?

First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Will the Credit Be?

The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:

The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.

The buyer’s income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.

The Federal Reserve initiative includes research, regulatory guidance, and strategies to help prevent foreclosures. http://www.chicagofed.org/community_development/foreclosure.cfm