Tampa FHA mortgage borrowers looking to take advantage of the tax credit need to hear the following two words loud and clear… GET CRACKIN’! The current $8,000 First-Time Home Buyer Tax Credit is set to expire November 30th.
As it stands – most folks take about 60 days between deciding to look for a home and closing on one. Folks… it’s time.
Yes, there is talk that the tax credit program may be extended, but nothing is certain and millions of First-Time Home Buyers (FTHBs) have already taken advantage of the credit.
With real estate closings taking as long as 60-90 days, according the National Association of Realtors, you need to get under contract shortly if you want to take advantage of the tax credit.
Home prices are down significantly across the country from their high points the past few years. However, median home prices in August were up 7.8% from their low point earlier this year. If you have been waiting for home prices to bottom out, you may want to reach down for a second. Feel that? Folks – you may very well be feeling your finger tips just touching the bottom.
Great opportunities are available out there now, but many real estate agents report multiple contracts being offered on hot properties. If you wait, you may be disappointed.
If you’re in the market for a Tampa FHA home loan, then give me a call at (863) 604-3019. I’ll have you pre-approved and then we can get you out there with your Realtor searching for homes right away.
Alternatively, if you want to speed up the process, you can go ahead and apply for a Tampa FHA mortgage online.
