Now would be a fantastic time to take full advantage of shopping for your first home. The Goverment deadline for qualifying for your First Time Home Buyer Tax Credit is before December 1, 2009. This means that you would have to have your home bought and closed by this date in order to qualify for the $8,000 tax credit. With the Thanksgiving holiday the week prior, many loan offices and banks will be closed or short staffed due to Thanksgiving. It is advisable to have a home selected and under contract to close prior to the holiday weekend. Lenders will be swamped with closings at this time. Many lenders, especially those offering FHA loans, have been slow to get homes closed.  Be sure to allot yourself plenty of time to close and make sure you  cash in on your $8,000 tax credit! Don’t forget if you haven’t owned a home in 3 years, you too qualify for this amazing credit! Don’t wait! Ideally good homes will be snatched up with the many buyers trying to make sure they are closed before the tax credit deadline. For more details check out this website regarding rules and regulations on the First Time Home Buyer Tax Credit Lenders typically need 45 days to get your home closed on time. Be sure you supply the information your lender needs in a timely fashion to keep things moving. I advise trying to have your new home under contract by October 15, 2009 if at all possible.

August 18th, 2009 Print This Post Print This Post

Posted In: Agent News, Community News, Mortgage, Omaha City, Omaha Market Update, Uncategorized