Home Buyer Tax Credit Ends April 30, 2010

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As the end of the month rolls around, the deadline for home buyer tax credits is quickly approaching.  These credits include the first time home buyer credit of up to $8,000 and the repeat home buyer credit of up to $6,500.  When combined with a tax credit, a home purchase financed with a low rate mortgage can yield maximum benefits of home ownership.  Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggests home buyers use online rate tables to find a low rate mortgage.

To qualify for the tax credit, home buyers must have a binding contract signed by April 30, but they have until the end of June to finalize the sale.  Because the deadline for a signed contract is coming up quickly, this reminder is more useful for those who have already begun their property search.  Furthermore, be aware of the qualifications that need to be fulfilled to be eligible for the tax credit.  For complete details, visit //www.federalhousingtaxcredit.com/.  Consumers should also consult their tax advisor to fully understand the benefits of the tax credit.

In addition to receiving a home buyer tax credit, financing the home purchase with a low interest mortgage can help minimize the cost of buying a home.  Lenders like AimLoan.com regularly offer rates below the national average.  A quick, easy way to find these low rates is to look online.  Various online resources such as MortgageRates.MonitorBankRates.com offer easy-to-read rate comparison tables.  These tables include a sorting feature so consumers can sort by rate, fees, or estimated monthly payment to help find the best deal.

Potential home buyers should consider getting pre-qualified for the appropriate financing before looking for a property to purchase.  Remember that a good credit score is one of the most important factors in getting qualified for a home loan.

Source: Informa Research Services

 
Author: Brian McKay
April 23rd, 2010

MBR In the Press





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