Get Your Tax Credits While They’Re Hot

For those of you thinking of buying a house (and, from the silence on my phone lately, I don’t think that is too many of you), be aware that the $8,000 tax credit on home purchases expires at the end of this month.   That means that in order to avail yourself of this money, you will need to enter into a Contract of Sale by April 30th.   So, if you are in the housing market and have been narrowing down your search, the next week or two will be a good time to make an offer.  In addition, you will need to close on the purchase by June 30th.   Since the mortgage process is taking 6-8 weeks lately that is not a lot of time between contract and close.  As a result, make sure that you apply for your mortgage as soon as your contract is signed.

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