I was reading the fine print in the tax buyer credit (I know, I lead a glamorous life...) and I was pleasantly surprised to learn the folllowing:
If a first time homebuyer buys a home between January 1, 2009 and June 30, 2009 they can use your 2008 tax return to qualify and get the $7,500 in their pocket with their 2008 refund.
The down payment on a $215,000 home under FHA is $7,525 so while they do have to spend that money up front, they can retrieve it almost immediately once they file your 2008 taxes.
There are some AMAZING homes for under $200,000 in Pierce and Thurston counties right now and interest rates are at historic lows. If you or someone you know is thinking about buying their first home, give me a call; I would love to assist them in deciding if now is the right time for them and guiding them through the process.
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