Hello neighbors,

It seems that one Southern state is picking up where the "First Time Home Buyer Tax Credit" left off.

The state of Florida has recently announced their "Home Buyer Mortgage Credit". That's right, days after the expiration of the federal government's "First Time Home Buyer Tax Credit", Prudential Florida Reality and Florida Home Finance Group will collaborate to produce a mortgage credit that will offer incentives to buyers with a desire to obtain homeownership in Florida.

The "Home Buyer Mortgage Credit" which began 3 days ago (May 1st), will offer qualifying home buyers a lender paid 1% interest rate reduction during the first year on fixed rate mortgages financed through Florida Home Finance Group, an affiliate of Wells Fargo Home Mortgage. In addition, these properties will need to be under contract by May 31, 2010. Those who are looking to purchase as well as those selling a home will have an opportunity for great customer service, security, and on time closings with Florida Title and Guarantee.

In addition, another incentive which started May 1st for participating Prudential Florida Reality home sellers will include an offer of up to 3% of the purchase price for buyers to utilize as a credit towards the closing cost or a concession on their mortgage rate for properties under contract on or by October 31, 2010.