{"id":4802,"date":"2017-06-01T00:00:00","date_gmt":"2017-06-01T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/more-states-ok-first-time-buyer-savings-accounts\/"},"modified":"2017-06-01T00:00:00","modified_gmt":"2017-06-01T00:00:00","slug":"more-states-ok-first-time-buyer-savings-accounts","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/more-states-ok-first-time-buyer-savings-accounts\/","title":{"rendered":"More States OK First-Time Buyer Savings Accounts"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div readability=\"47.65652173913\">\n<!--\n\n<pre>-->  <\/p>\n<div property=\"dc:description\" readability=\"41.269565217391\"><!--paging_filter--><\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" alt=\"Minnesota Governor Mark Dayton\" src=\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2017_jun\/jun17_minn_gov.jpg\" style=\"width: 400px; height: 188px; float: left; margin: 5px;\"\/>Minnesota is the latest state to adopt a First-Time Home Buyers Savings Account, joining a growing list of states.<\/p>\n<p>These accounts allow individuals and families to save for their first home by putting a percentage of their income, or a capped amount of <a href=\"https:\/\/amazingproperty.com.ng\/blog\/get-quick-loan-for-real-estate-investment\/\">funds<\/a>, into an account that is free from state income taxes.<\/p>\n<p>The Minnesota Governor signed legislation to create a First-Time Home Buyers Savings Account in the state into law this week. Minnesota now joins five other states that have similar accounts for first-time buyers: Colorado, Mississippi, Iowa, Missouri, and Oregon.<\/p>\n<p>The National Association of REALTORS\u00ae\u2019 Community and Political Affairs Division has been advocating for First-Time Home Buyers Savings Accounts, saying they could help thousands across the nation achieve homeownership. Since 2016, NAR officials have been assisting states with tools and resources to help lawmakers propose bills to get approvals for establishing these accounts.\u00a0<\/p>\n<p>Other states have been seeking to adopt First-Time Home Buyers Savings Accounts. In New York, an assembly vote is scheduled on a measure next week. Also, Pennsylvania lawmakers reportedly plan to introduce a bill later in 2017. Oklahoma, Maryland, Utah, and Louisiana have also shown interest in approving their own legislation on First-Time Home Buyer Savings Accounts.<\/p>\n<p><strong><img data-recalc-dims=\"1\" decoding=\"async\" alt=\"\" src=\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2017_jun\/NAR_first%20time%20buyer%20infographic.png\" style=\"width: 620px; height: 400px;\"\/><\/strong><\/p>\n<p><span class=\"st\">\u2014<\/span><em>Melissa Dittmann Tracey, REALTOR\u00ae Magazine<\/em><\/p>\n<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a hre=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/oc4LOpshKT4\/more-states-ok-first-time-buyer-savings-accounts\"> Realtors.org <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Minnesota is the latest state to adopt a First-Time Home Buyers Savings Account, joining a &hellip; <a title=\"More States OK First-Time Buyer Savings Accounts\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/more-states-ok-first-time-buyer-savings-accounts\/\"><span class=\"screen-reader-text\">More States OK First-Time Buyer Savings Accounts<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4803,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,12908,543,627,1007,41,818,479,15282,1262],"class_list":["post-4802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-home","tag-home-buying-guide","tag-homeowners","tag-owners","tag-property","tag-real","tag-realtor","tag-ross","tag-taxes"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/jun17_minn_gov.jpg?fit=830%2C390&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1473,"url":"https:\/\/amazingproperty.com.ng\/blog\/10-best-and-worst-states-for-millennial-buyers\/","url_meta":{"origin":4802,"position":0},"title":"10 Best and Worst States for Millennial Buyers","author":"Amazing Property","date":"March 1, 2017","format":false,"excerpt":"[ad_1] Millennials have it rough: They're being slapped with a trifecta of housing affordability, credit accessibility, and employment issues, all of which are hampering their ability to buy, according to new report by Bankrate.com. The toughest state of all for millennial buyers may be California, where affordability is low, inventory\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8086,"url":"https:\/\/amazingproperty.com.ng\/blog\/creative-ways-to-save-for-a-down-payment\/","url_meta":{"origin":4802,"position":1},"title":"Creative Ways To Save For A Down Payment","author":"Amazing Property","date":"February 11, 2018","format":false,"excerpt":"You'd love to buy a house, and if it weren't for that pesky down payment, you'd be sitting pretty in a place of your own, right? You're not alone. Not surprisingly, the \"top challenge for would-be homebuyers is the\u00a0down payment requirement,\" said The Mortgage Reports. In a recent study, \"Over\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"7b97c1e41d89fa1a85a786544cfdad38 S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/7b97c1e41d89fa1a85a786544cfdad38_S.jpg?fit=424%2C254&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2809,"url":"https:\/\/amazingproperty.com.ng\/blog\/bankrate-names-the-10-best-places-to-retire\/","url_meta":{"origin":4802,"position":2},"title":"Bankrate Names the 10 Best Places to Retire","author":"Amazing Property","date":"March 31, 2017","format":false,"excerpt":"Some cities are better than others to ride out your golden years. Bankrate.com examined costs, weather, health care, crime, taxes, and cultural amenities to determine the best 10 places to retire in the U.S. These states topped the list: Read more Make Your Retirement Plan: Here's How New Hampshire Colorado\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":616,"url":"https:\/\/amazingproperty.com.ng\/blog\/escrow-accounts-serve-no-purpose\/","url_meta":{"origin":4802,"position":3},"title":"Escrow Accounts Serve No Purpose","author":"Amazing Property","date":"January 3, 2017","format":false,"excerpt":"Question: Why do we really have to give the lender money, which is held in non-interest bearing accounts, to guarantee we will pay our own taxes and our own insurance policies? Your comments would be appreciated. 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