LoanCentral's Real Estate Lending Blog

First-Time Buyers have 199 days left to CLOSE on their new home to take advantage of the First Time Homebuyer Tax Credit. Qualified buyers include those that have not owned a primary residence in the last 3 years.

These homes need to CLOSE BEFORE DECEMBER 1st.

Remind your friends - this is a tax credit not a tax deduction. It’s time to remind first-time home buyers that in order to qualify for the government’s $8,000 gift in the form of a tax credit, the deal must close by Dec. 1.

Buyers should have a purchase contract signed soon so they have 45 to 60 days to arrange financing and safely close the deal - especially with the new HERA and TILA changes effective July 30th.