The up to $8000 tax credit will be history at the end of November. At sundown November 30, 2009 the $8000 tax credit home buying helping hand will disappear with the sun.If you consider an average house loan without unforseen glitches and set backs takes a standard loan six to eight weeks, it's time to climb on the real estate horse to find a house.
Mortgage negotiations should be wrapped up by mid October if you want to close by the deadline. Are you a first time home buyer or as a couple, did one of you not own a place in the last three years?
You need to look thru the fine points rather than assume this does or does not apply as you grumble and continue to rent, throwing cash in the trash, down the rent drain.
Pre-approval for a home loan is always the first step before falling into love with a place that is out of reach or does not meet specifications of your program. The last minute rush to buy from the real estate procrastinators could mean you mean the boat. Remember the clogged real estate loan originators pipeline, the overworked attorneys, return visits from appraisers that spell out deficiencies needed correction for them to sign off so the loan proceeds down the real estate conveyor belt.
Real estate, your safest investment, your savings bank, your best hedge against inflation.