Charlotte first home buyers, there are only 90* days left, until November 30,
TEN DAYS- under contract by October 25 to be safe.
to Close on a home, and file for the first home buyer $8000 Tax credit. We’ll help you buy the first home in Charlotte, we have help for first home mortgages, we’ve one of the best. We’ll let you or your tax person fill out the the IRS 5405 you see below.
By now you are probably familiar with the rules, if not here’s the link to the IRS Form
Go Get the form, print it down, its easy to read. You’ll see you have to buy a home- read close on a home, by December 1, 2009. There are some income limitations, and as long as you bought it this year, no worries on repayment either.
So What’s $8,000? Lets look at a few numbers, and see the impact for you… I’ll figure your first home mortgage will be FHA, it doesn’t have to be, but rates are excellent, and they have the smallest down payments. The numbers below are based on an FHA loan, with a 3.5% Down Payment, closing costs are estimated and will vary depending on the loan and bank:
| Estimated Home Cost | FHA 3.5% DP | Closing 2.2%est | Total Cash | Tax Rebate | Net Out of Pocket | |
| 175000 | 6125 | 3850 | 9975 | 8000 | 1975 | |
| Same Deal, with seller paid CC | 6125 | 0 | 6125 | 8000 | -1875 | |
| 250000 | 8750 | 5500 | 14250 | 8000 | 6250 | |
| Same Deal, with seller paid CC | 8750 | 0 | 8750 | 8000 | 750 | |
| 325000 | 11375 | 7150 | 18525 | 8000 | 10525 | |
| Same Deal, with seller paid CC | 11375 | 0 | 11375 | 8000 | 3375 | |
As you can see, this is what we call- in the real estate business… AWESOME!!
Uncle Sam has come through for you in a big way, now it’s your turn to stimulate the economy.
*Remember, it typically takes 30 days, sometimes more, to close a loan, so you should be under contract by November 1st at the latest to be safe. Yes we’ll be working overtime.
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So ATTENTION Charlotte First Time Home Buyers
We work for our Buyer Clients as Exclusive Buyer Agents- we won’t show a house with our name on it, so we’ve got your back covered every step of the way. We’ll work at your pace, help you to understand the as much as you want and need to understand to make an informed choice, we’ll keep the other players on track, and help get you into your first home.
Integrity + Competence = a pretty good Buyer Agent… and a good Buyer agent and smart buyer make GREAT deals happen! Call us today, there is no time to lose, 704-351-1519
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