Federal Tax Credit Running Out ?
The Federal Tax Credit Program is running out as we head towards the end of April. For those first time home buyers this is an opportunity for an $8,000 tax credit after the sale of the home. While the $8,000 is not a big number if you look at the life of the mortgage it can mean an added enhancement some quick money back. For first time home buyers this is an incentive to act quick as there are only 12 days left to find a property, complete your inspections and sign / finalize the purchase and sale agreement. If you are working by yourself without a buyer's agent as your advocate this time-line could be unachievable. Please make sure you are working with a Realtor under contract as this helps protect you during a transaction but also streamlines the process. The entire transaction needs to close by June 30th 2010
If you would like information on the Federal Tax Credit Program please ask your Realtor, or your mortgage specialist.
This weekend is just about the last one to find a home and start the purchase process in order to qualify for the tax credit
- April 13th, 2010 - Signed purchase and sale agreement
- June 30th, 2010 - Closed transaction
I hope this information helps and if you have any questions please post them or send me an email