The federal tax credit expires on November 30, 2009.  And the Federal reserve has said they will stop buying mortgage backed securities – which is keeping rates low – on December 30.  By then, the home affordability will no longer be what it is now, because mortgage interest rates will certainly have to rise, with a major buyer out of the market.

And, consider this: If you are a first time home buyer around Atlanta, and you go to buy a $200,000 home with FHA financing, then your down payment is 3.5% of the purchase price, or $7000.  You can ammend your 2008 tax return immediately after closing, and receive the $8000 tax credit.  You recoup the down payment, and have $1000 in reserve.  And, you lock in a 30 year fixed rate loan at the lowest rates in 5 decades. Oh, and a first time home buyer is defined as anyone who has not owned a home in the past 3 years.

Want to take advantage of this perfect time to buy your first home?  There are two ways to get started:

• Call me and we will set a time to meet and discuss what financing will look like for your situation.  My number is just over to the right, there.  Or email me.
• Secure your seat at one of the Atlanta Million Dollar Challenge Seminars, and together with dozens of your friends around Atlanta, learn the in’s and out’s of buying your first home in metro Atlanta, and securing your $8000 federal tax credit and your up to $1800 State of Georgia tax credit. Click Here to reserve your seat at one of the MDC Seminars.