Tired of renting or living at your parents home?  Thinking about whether or not you can afford or qualify for your own home? 

Well there truly is something to be said about striking while the iron is hot!  The $8000 first time home buyer tax credit will expire December 1, 2009.  Home loans are taking approximately 45 days to underwrite and close.  That means you must have a home under contract by October 15, 2009 in order to meet that closing deadline to receive that free money.  You receive the money after the closing and you can spend it any way you choose, new furniture, landscaping,remodeling, savings, etc. Talk to your cpa about helping you get the paperwork filled out for this great offer.

Also, for buyers looking for a partially constructed or brand new home, the $4000 Home Run Grant is available until it is gone.  It is limited to new homes only.  Once you have found a home, put it under contract, and your loan has been underwritten your lender will help you fill out the paperwork and you will have 10 days to close once approved for the grant.  It will be used for either down payment or closing costs.  The grant is given at closing.

Most sellers will include closing costs for the right offer and some builders offer even more buyer incentives.  Most lenders require at least 3% down.  However there are hud homes that require only $100 down. 

You may find that your mortgage is less than the rent you are paying.  Don't forget about the tax advantages that come with purchasing a home. Some of your closing costs and mortgage payments are tax deductible. This especially important for single people who get no mercy on their taxes. 

Don't look back and wish you would have bought a home at the best possible time to buy.  The future looks bright for first time home buyers right now.  Are you ready to explore your options?