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when does the $8000 credit end? Is it possible they might extend?

we only have a small amount for downpayment. what kind of loan can we qualify for to get the refund? by CindyHeimstadt from Eugene, Oregon. Mar 11th 2010 Reply


JEFFREY MARTINO YOUNG (FHASUBMISSION.COM)
#223 ranked lender in California - 131 contributions

1.- The expiration of the tax credit. If someone is not under agreement by the end of April then they will not qualify. There are no signs pointing to an extension of the tax credit at this point. 2.- The Fed will stop buying mortgage backed securities at the end of March. For those of you who have read my previous emails and Blogs about this subject, you know that the Fed is the single largest investor in the Mortgage Backed Securities(MBS) that are used to set Mortgage rates. Once they pull out of that market at the end of March there is an expectation that we will see rates rise. 3. - As for the type of loan you can qualify for we have programs that will finance up to 100% and other programs that work with as little as 3.5 % down.We are a Mortgage Bank and Licensed in the State of California you can fill out a quick pre-qualification form online or feel free to contact me directly. Loan pre-qual can be found on my website WWW.FHASUBMISSIONS.COM or you can reach me at (310) 984-0496. Thanks a lot !!! Jeffrey Martino Young

Mar 11th 2010
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Al and Cindy Lane (Al Lane)
#1 ranked lender in Washington - 38 contributions

The Tax Credit will end on April 30th and there is virtually no discussion I have heard of extending it. On the positive side the only thing required by the 30th of April is a signed Purchase and Sale Agreement and the loan would the have to be funded by the 30th of June. There are many loan programs that are available to help you depending on where you are trying to buy. Depending on the loan program it could be 100% financing or as little down as 3.5%. I am licensed in Washington and Oregon and would be happy to answer any questions you may have. Feel free to call me on my cell 360-901-1023 at any time.

Mar 11th 2010
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Parham Rezaeipour (Parham Rezaeipour)
#3 ranked lender in Indiana - 8 contributions

Hello.You need to have an accepted offer and purchase contract by April 30th. the purchase needs to close by June 30th.FHA loan would be your best option for Low downpayment. we have the ability to close FHA loans very quickly. please feel free to contact me at your earliest convenience to get PRE-APPROVED for a home loan. 219-865-4000 ask for Kevin. Baytree Lending Company - 219-865-4000 -www.LocalMortgageBank.com

Mar 12th 2010
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