First Time Home Buyer Tax Credit Extension – Obama $8000 and $6500 Credits Expire Today April 30th, 2010
Posted on | April 30, 2010 | Comments Off
The thought of a first time home buyer tax credit has crossed the mind of many Americans over the last few weeks but it does not look as if it will happen. The Obama administration has decided to let the $8000 and $6500 government tax credits expire on April 30th, 2010.
There is very little argument that the first time home buyer tax credit has greatly helped the housing market. With home prices affordable, mortgage interest rates very low and a tax credit available there have been many first time home buyers to gobble up the extra inventory that had been bringing home prices down.
Even though there will not be a first time home buyer tax credit extension it does not mean that now is not a good time for first time buyers to get into the market. Some housing markets have dropped greatly and there are buying opportunities. It is very important to make sure that you can afford your monthly mortgage payment each and every month before deciding that buying a new home is right for you.
Author: Mike Garner