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How to Buy a Home Before $8K Tax Credit Deadline

With the $8,000 first time home buyer tax credit expiring November 30, and that it can take 30-45 days to close a home, here are 5 tips to expedite your home purchase in order to take advantage of the tax credit.

1. Get Pre Approved for Mortgage.

2. Make sure you are liquid

Have enough money available for your down payment and closing costs as your mortgage requires.

3. Avoid "Short Sale" Listings

A short sale occurs when a homeowner owes more on their home loan than what they are selling the home. Because the current lien holder has to approve the sale and the loss, these properties can take months to close.

4. Don't go on a shopping spree before you close

Avoid making any big purchases on a credit card or with any financing programs. Big purchases may affect you home loan and your ability to qualify.

5. Work with a Realtor®

source: smartmoney.com

 

The Trey Affolter Team at Keller Williams Realty always welcomes comments and is available to answer questions about Tacoma Real Estate and the surrounding cities within Pierce County Real Estate, South King County Real Estate, and North Thurston County Real Estate.  

253-222-6000

http://www.TreySellsHouses.com
Your Tacoma Real Estate Professional
Posted by Trey Affolter on October 10th, 2009 9:00 AMPost a Comment (0)
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