Over $1.2 million buyers have taken advantage of the $8,000 new home buyer tax credit since its inception. Of those, 350,000 would not have purchased if not for the tax credit available to them, according to the National Association of Realtors. Currently, the credit is scheduled to expire November 30, 2009.
As the current deadline for the credit looms, potential homebuyers need to complete a contract, satisfy any contingencies, secure financing and go to closing by Nov. 30. In today’s market, NAR estimates that it generally takes between 45 and 60 days from contract to closing.“That means potential homebuyers who qualify must act now, and so must Congress,” says NAR president Charles McMillan.
Directly from our website, you can compare mortgage rates, apply for a loan and find out exactly how much home you can afford in order to take advantage of this credit before it expires. Go to www.floridagulfproperty.com and click on Mortgage Rates or Apply For A Loan.
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