Hurry Time Is Running Out …

To all of you who are considering your first home, your time to cash in on the tax credit is coming to an end.  To the the $8000 tax credit you have to be closed on your home before or on Aptil 30, 2010.   Remember, to be pre-approved for a home loan takes a bit longer than your regular old auto loan.  If you are looking to receive the tax credit, you need to get approved about 25 days before you are looking to close.
Right now, America First Credit Union is on a 25 day rate lock for purchase only.  A rate lock is an agreement between the borrower and the lender for a specified number of days for which a loan’s interest rate and points will be guaranteed by the lender.

Check out our rates and our Loan Consultant to help you start the process.
There are some stipulations:

· Amount of credit $8,000.00, or $4,000.00 married filing separate
· May not have interest in primary residence for 3 years prior to purchase
· Income limit $75,000.00 per year if single, $150,000.00 per year if married

Also, if you are current homeowner, been in your home for 5 years and are looking to upgrade, you can get up toa $6500 tax credit.  Here are some things you should remember:

· Amount of credit $6,500.00, or $3,250.00 married filing separate.
· Must have used the home you sold or is being sold as a primary residence consecutively for 5 of the previous 8 years.
· As long as your binding purchase contract to buy your new home is in by April 30, 2010 the purchaser will have until July 1, 2010 to close.
· Income limit $125,000.00 per year if single, $225,000.00 per year if married.
· Can not buy a home over $800,000.00.

So don’t delay!  Get pre-approved online or visit one of our helpful Loan Originators and start looking for your home today!