I have a few clients who are looking for a 3 bd home under $120K. It seemed like just a week or 2 ago there were quite a few to choose from. Now the ones that will actually qualify for a loan in that price range have almost all been sold. The ship has sailed. Or at least for the time being. Rates are still under 6% for those with good credit I hear.
It’s a great deal that Uncle Sam has for You— if you haven’t owned a home in the last 3 years they are going to give you an $8000 credit towards doing something you probably already want to do—buy your 1st home. —However you must close escrow before Dec 1, 2009 or you don’t get it.— The clock is ticking—and Time is Running Out.— So if you’re thinking about buying your 1st home, and if you have any questions, just ask me and I’ll be glad to answer them.
1st Time Homebuyers Credit (if you have not owned a home in the last 3 years)(a home could be considered a boat, motorhome, mobile home in a park even if you do not own the land, if you have claimed any of these as your home on your taxes)(always check with your tax preparer or the irs to verify).
10% or $8000 whichever is less.
So a mobile home in a park (like the one I have for sale at 139 Cottonwood Circle) selling for $15,500, the credit would be $1550 as I understand it.
Any Credit is a Good Credit.