Comments on: First Time Home Buyers Tax Credit

By: omid

omid — Fri, 16 Apr 2010 19:27:24 +0000

does Tax benefit also apply to Canadians?

By: Andre @ 15000 Dollar Tax Credit

Andre @ 15000 Dollar Tax Credit — Thu, 08 Apr 2010 18:20:13 +0000

The term “first time home buyers” is definitely misleading. It may seem crazy as Terrance mentioned, but at least more people are qualified to avail of this tax credit. A great incentive and motivation for home buyers and sellers alike.

By: dave@get a student loan

dave@get a student loan — Sun, 14 Feb 2010 15:42:23 +0000

The tax credit has been extended to may 2010 – I am so close to being able to get pre-approved just not quite there yet, hopefully I can make the deadline, get 8K and a new home to reside in

By: Family Law Solicitors London

Family Law Solicitors London — Fri, 29 Jan 2010 10:29:07 +0000

In the UK you wouldn’t been seen as a first time buy like that. If you have ever bought a house then the credit history would help get another morguage as long as its a good rating.

By: Jamie@ help with foreclosures

Jamie@ help with foreclosures — Fri, 23 Oct 2009 16:29:38 +0000

I don’t know if it is a good idea. The temptation of buying a home can attract people who can’t afford it,and lie on their application,like a lot of people did, and go into foreclosure. If you can’t afford to buy don’t buy. I see beyond Obama’s sugar coating…

By: Dana Bain@Premiere Mortgage in Mass

Dana Bain@Premiere Mortgage in Mass — Thu, 13 Aug 2009 18:32:02 +0000

I agree. Not only because it helps people who were thinking they couldn’t afford to buy a home right now, but also because it helps home sellers. People who may have been waiting months to sell their homes – since there are lots of homes for sale (or foreclosed!) and fewer home buyers (buyer’s market, right?) – those individuals can now have hope that their homes might actually sell. It helps get a sluggish real estate market moving again, and that is good for everybody.

Other efforts from the Federal Reserve Board are helping families, couples and individuals feel better about taking the financial steps needed to purchase a home. Revisions in mortgage disclosure, enacted in July, are set up to ensure greater transparency for consumers. Any new changes that come and are geared to protect consumers who need more information before closing on a mortgage loan can do nothing but help our country’s current stasis.

Interested in what others have to say about this.

-Dana

By: aditya@Corporate housing new york

aditya@Corporate housing new york — Wed, 12 Aug 2009 21:51:12 +0000

Hi,
It is the nice step taken by the Obama Administration. It should really help the people who thinks to buy a home .

By: Terrance from Family Law Solicitors

Terrance from Family Law Solicitors — Mon, 20 Jul 2009 10:35:36 +0000

It’s crazy that you count as a first time buyer if you haven’t bought a house for 3 years. It doesn’t make any sense.

I take it this doesn’t count if you currently own a house and are selling it to buy a new one? If that was the case the vast majority of people would be “first time buyers”.

By: It's the Housing Sector Stupid

It's the Housing Sector Stupid — Wed, 08 Jul 2009 20:42:47 +0000

[...] First Time Home Buyers Tax Credit [...]

By: San Diego Luxury Homes

San Diego Luxury Homes — Thu, 11 Jun 2009 18:48:41 +0000

My understanding is that the the final guidelines for the $8,000 tax credit were issued on May 29, 2009. The real estate that I read says that the first-time home buyer must complete the purchase by November 1, 2009. The buyer must take out an FHA loan, and these loans require a minimum 3.5% down payment. But ten states have programs to provide bridge loans of up to 3% on top of the first mortgage, so there is a good chance for many home buyers to get 100% financing on home purchases for a limited time. My summary of this first-time home buyer program is at my San Diego real estate blog. But the guidelines can be read in full at the HUD website.