CommonWealth Real Estate Your Way, Brodheadsville
Pocono and Lehigh Valley Real Estate Blog

First Time Homebuyers – Don’t Miss the Deadline

August 20, 2009 by · Leave a Comment 

FIRST-TIME HOME BUYERS – Don’t miss your chance to become a homeowner because you missed the deadline

Time is running out – November 30, 2009 is the Cut-Off

By now, everyone knows about the American Recovery and Reinvestment Act and the $8,000 tax credit available for first-time homebuyers. It’s the best incentive to buy a home in decades.

It’s important to note that the deadline for who qualifies is fast approaching. While November 30, 2009 seems ages away, it will be here before you know it. And that date is the deadline for closing. To qualify for the tax credit, your purchase must close by the November 30, 2009 cutoff.

So, if purchasing a new home to take advantage of the tax credit is on your “To Do” list — Get moving!!!

Currently, there is so much activity in the marketplace — appraisal requests, lots of refinancing and regular home purchases because of great mortgage rates. Closings are taking longer than ever and are even being pushed back every day.

Call any of our agents at Commonwealth Real Estate Your Way today to help get started in buying your first home in the Pocono real estate market.

More Tax Incentive Info

  • You are considered a first-time homebuyer if you, and your spouse if you are married, have not owned any other main home during the three-year period ending prior to the date of purchase.
  • In June it was announced that the American Recovery and Reinvestment Act tax credit of up to $8,000 could be used as down payment or for closing costs on FHA-insured mortgages.

Find more info at www.IRS.gov or www.realtor.org


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