Woohoo! 
Congress passed the extension of the first time homebuyers $8,000 tax credtit and President Obama signed it into Law. This extension will be extended till April 30th of 2010 but if you are able to get a house under contract by that date, then you'll have until June 30th, 2010. If you already own and have lived in your home for at least five years, you may qualify for $6,500 tax credit. So can you say, show me the money!!!
Ok, now that you know you have a little more time, what will you do with it? Will you just window shop until the last minute? Or are you going to get serious and do everything you need to do to take advantage of this FREE MONEY?
Do you know that in order to qualify for this tax credit you have to actually buy/close on the house within that time given. Please understand that I'm not saying you should jump in and buy the first house you see. I'm merely saying that you should start seriously looking with a professional. You know, speak with a mortgage professional to get prequalified/ pre-approved, hire an experience REALTOR(R) like me to make sure your buying experience will go smooth. Oh, and the best thing is you don't have to pay me to assist you because seller's normally take care of our commission.
Here are some things to remember:
- It is important to consult your tax professional about if and how much you will receive.
- Make sure you can trully aford to buy a house.
- Once you've received your loan prequalification, DO NOT purchase or add anything on your credit before you close on your home!
As always, I am here to help you with your home buying experience.