Archive for the ‘First Time Homebuyer Tax Credit’ category

Tax Credit Deadline Approaching Quickly!

October 28th, 2009

Okay, we’ve written about the government’s $8000 tax credit on this site and some of our other blogs and you probably have heard about it online, on the TV, in the newspaper, and so on. The deadline to close on a house to qualify for the credit is November 30th, 2009. Any closings after that will not qualify for the credit.

You say to yourself, “Oh, Save On A New Home, I have more than a month left to buy a house!”

Even though the deadline is more than a month away, to qualify, you must actually close on the house by the deadline, not just pick out your dream home. With interest rates at some of the lowest levels in history (as of today, average 30 year fixed rates are running well below 5%), banks are bombarded with refinancings and house closings and thus the closing process is taking at least 30 days.

Many new home builders are telling clients that the true deadline is October 31st to find that perfect dream home AND qualify for the tax credit.

What’s that mean for you? You need to take a look at our new homes database, find a house you like, contact us at 1-866-560-1079 and get a contract on a house before the end of the month! Don’t wait – you only have a few days left.

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$8000 Tax Credit is Still Available but the Clock is Ticking!

September 24th, 2009

If you are a first-time home buyer and are interested in buying a home this year, you probably have heard the news that you are entitled to a tax credit of up to $8000. To qualify you have to be a first-time home buyer and you have to purchase your property on or after January 1st, 2009 and BEFORE December 1st.

According to the government’s website, “Any home that will be used as a principal residence will qualify for the credit. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats.”

The site also goes on to say, “The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.”

Okay so that’s great, right? Yes, it is but if you are still planning to take advantage of this plan, you need to act fast. As of this writing, you have approximately two months to find that dream home, apply for financing, write a contract and hope to close BEFORE the deadline. And you need to make sure you close by November 30th, 2009 because the government’s site says it must be done before the deadline of December 1st.

Rumors are swirling that the government may extend the deadline, but as of this writing the Federal Housing Tax Credit site currently has not mentioned an extension. We’ll be sure to let you know as soon as we hear anything.

In the meanwhile, don’t panic! We can help you. There are plenty of new homes waiting for you to call them home. We can help you find your dream home, arrange financing and close before the deadline. Call us at 1-866-560-1079 for help!

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Posted in First Time Homebuyer Tax Credit