First time homebuyer credit

**jeremiahpeterson** · 10-19-2009, 09:38 AM

When is the deadline for this?

**Yacker** · 10-19-2009, 10:00 AM

You have to have the property "purchased" by Nov 30th of this year. Which means you have to close on or before that date. I am hoping they extend it for a bit more as I am in the process of buying but afraid Sallie Mae will not move the foreclosure I am buying fast enough to close by then. Would suck to close few days after the deadline and miss out on a free 8k.

**Sabir** · 10-19-2009, 09:14 PM

stay in touch with the property & real estate authorities and you will know closing date.
or you may get relevant information from this website.

**minnesota-mls** · 10-27-2009, 02:33 PM

Right now the deadline is set at November 30th. And our team here in Minnesota is telling all of our buyers, really try to set a close date a few days prior to the 30th. There are so many delays in closings nowadays that is really is the best and safest way to go.

It will be interesting to see if the real estate tax credit is extended here past the 30th?

**jeremiahpeterson** · 11-02-2009, 12:28 PM

Thanks, I'm glad they extended it! I wonder if they will extend it again once the new deadline arrives.

Also, I wonder about the lending requirements in terms of where does the majority of down payment home from on a multi-person purchase. From what I hear if majority disqualifies than no credit.

Jeremiah Peterson

**Rickie** · 11-04-2009, 12:48 AM

Hi,

The First Time Home Buyer Credit is a great way to alleviate some of the expenses involved with buying a home. Using it wisely will mean that you may be able to buy a house sooner than you expected and deal with house purchase costs.