Time is flying by quickly to cash in on your $8000 tax credit for first time home buyers. As of this writing there are only 97 days left until the tax credit expires. Because, to qualify for the $8000 tax credit, you need to close on the purchase of your home by November 30, 2009.
“Cash for Clunkers” is over. Enter, Cash for Renters, the $8000 tax credit for first time home buyers. But just like the narrow window of opportunity to turn in your clunker for cash, there is an equally narrow windo to claim your $8000 tax credit. Realistically, if you are buying your first home around metro Atlanta, then you need to have an accepted contract by the end of October in order to close by the end of November.
And, think of this: if you buy a $200,000 home and finance it with an FHA mortgage, then your down payment is $7000. Get the tax credit back, and you replace your down payment and have $1000 left to buy that new, big, cozy leather chair…or, just save the money in the bank for a rainy day.
And when we need to act quickly, the best way to avoid costly mistakes is with a proper education. So, mark your calendar for the one first time home buyer training that we have left:
Wednesday, September 2 @ 7:00pm
The 1818 Club 6500 Sugarloaf Pky, Duluth, GA 30097 – in the Gwinnett Chamber of Commerce Building
To buy your first home – quite possibly for less than you pay in rent – and get up to $8,000 in free money from the federal government for doing so, then sign up here to reserve your seat.
And, be ready to brag for years that YOU bought at the perfect time. Mortgage rates are at multi-decade lows, home prices have fallen, and the government is giving you $8000 to buy now.
I can only imagine the stories you will be telling your friends, gathered around you at the next party!
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