First Time Home Buyer Tax Credit Extension – $8000 and $6500 for Move Up Buyers
Posted on | February 25, 2010 | 1 Comment
The first time home buyer tax credit extension has helped many home buyers to save money over the last several months. If you are purchasing your first home you have the opportunity to receive a check for $8000 while move up buyers have the chance to receive a check for $6500. To receive these checks you must be under contract by April 30th, 2010.
President Obama and his staff worked very hard to get the first time home buyer tax credit extension passed as they released this tax credit was greatly helping the housing market. There is little argument that the first time home buyer tax credit has brought many buyers into the market but what does the future bring?
Over the last few months we have seen home prices stabilize instead of their strong move higher. Part of the reason for this may be the fact that first time and move up home buyers are complacent until April rolls around. When April gets here we could see a tick up in mortgage applications due to the expiration of the first time home buyer tax credit.
If you have been considering buying your first home now is one of the best times in history. Not only is there an $8000 first time home buyer tax credit but we are also living in a very low interest rate environment. You do not want to let these opportunities pass you by.
Author: Alan Lake
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February 25th, 2010 @ 4:10 pm
Great post! Here’s some information the might help out a first-time home buyer, it’s about getting all your ducks in a row before buying a new home http://www.fischerandfrichtel.com/blog/index.php/2010/02/getting-all-your-ducks-in-a-row-before-buying-your-new-home/