February 25th, 2010 9:52 AM by Rob Robbins
There is only 65 days left to put a home under contract by April 30th, 2010 to qualify for the First Time Home Buyer ($ 8,000) and the Move Up Home Buyer ($ 6,500)tax credit. You must close on the home by June 30th.
This is a great incentive for buyers that are planning to purchase a home this year. If the only reason you have not bought a home is you are waiting for the right deal, then this is it. There is nothing you can do that would save you more money than buying while qualifying for the tax credit. You receive a check for the credit or pay a lot less tax. It is cash one way or the other.
Buying a home for $ 10,000 less later may save you $50-$60 per month in your payment assuming interest rates stay the same which I think the likelihood of that is slim.
Why would you wait if you have the capability to purchase now?
Rob
