If you are a first-time home buyer (someone who hasn’t owned a home in the past three years), now is the time for you to buy! The IRS is extending a tax credit of $7,500 for first-time home buyers within certain income limits: less than $75,000 income for single or head-of-household and up to $150,000 for married filing joint. Married couples who earn between $150,000-170,000 are eligible to receive a partial first-time home buyer tax credit. You can receive the $7,500 tax credit for the purchase of any home between April 9, 2008 – June 30, 2009. Buyers can take this tax credit on their 2008 or 2009 tax returns and it is a refundable credit (meaning that if you owe no tax, you would still get a $7,500 refund).

If you are a first-time home buyer, this is not the only reason to buy at this time. In addition to the tax credit, mortgage interest rates are good and the opportunity to get a good buy on a home is great right now. I would be happy to speak with you about your financial situation and how we might structure a loan that will work for you. I’m here to help you find the right loan at the right rate, right now!

For all mortgage-related questions, feel free to give me a call at (360) 907-911 or click the link below to go to my website and to apply online!

Take care,

Chris Hyde
Chris Hyde Mortgage