10 Days Left!
Only 10 days to get a home under contract to qualify for the home buyer tax credit!
In order to qualify for the home buyer tax credit ($8,000 refundable tax credit for first time buyers, $6,500 refundable tax credit for non-first time buyers that qualify) you must have a home under contract by April 30, 2010 and close by June 30, 2010. I would also add completing a home inspection to the being under contract, if you do inspection and back out of deal after April 30, you will not get credit on next home.
Ok, so we know it is crunch time. We know $6,500 (tax free!) is a lot of money, which makes $8,000 a lot of money. So what do we do now:
Get on ChangingStreets.com look at homes,
Get a mortgage pre-approval, this is huge, it will make getting the deal accepted by the buyer easier, at a better price and on time,
Contact ChangingStreets.com in your area, your StreetSmart agent can guide you to a reputable lender, home inspector and negotiate your best deal on a new home. (not to mention the fun part…SHOWING HOMES!)
This really is too good to pass up, if your payment is $1,250 now you will live for free for six months!
If you are renting for $1,000 a month you can own a $120,000 home and your payment including taxes and insurance will be less than your rent, and you get $8,000.
Click here to get more info on the tax credit
Here are some hints on how to come up with $$ to get tax credit.
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Oh I’m glad you posted this! I hope everyone who is shopping has their pre approvals already! It makes everything so much easier and – necessary for the tax break – faster! It can also make the difference between getting and losing the house you love because in the time you are waiting to get approved for the house you want, somebody else WITH their approval can sneak in and submit an offer before you! So frustrating!