First Time Home Buyer Tax Credit Extension – Government $8000 and $6500 Credits Expire on April 30th, 2010
Posted on | April 29, 2010 | Comments Off
The first time home buyer tax credit extension has been a much talked about subject in Washington over the last several weeks. The Government $8000 and $6500 tax credits are set to expire on April 30th, 2010. With this being the case many first time buyers are flooding the market but are hoping that the tax credits are extended so they get more time.
With mortgage interest rates near 5% and home prices at very moderate levels many first time buyers have incentives to buy. Couple this with the fact that there is an $8000 tax credit available and there is little argument that now is a great time to buy if someone is in a very strong financial position.
Over the next two days there is likely to be great excitement when it comes to this tax credit but please understand that you must be under contract by April 30th, 2010. If you are not under contract then you will not be able to receive this $8000 check from the Federal Government.
Author: Alan Lake