What a great opportunity for first time home buyers to purchase a home!!!  Those of you who are wanting to qualify for the $8,000.00 tax credit need to be aware that your deadline, of November 30, 2009, is quickly approaching.  Not many first time home buyers realize the time frame that is involved in buying a house.  The lending process (depending on your lender) can take on average from 21 days to 30 days, or more, to complete.  So make sure to visit with a lender before you go look at houses.  That way you will know three important things:

1. You will know how much you can spend on a home.

2. You will have a good estimate of the number of days needed to close your loan.

3. Your lender will then have the needed documents to quickly start the process of your loan approval.

You also need to keep in mind that after all the closing documents are signed, your home purchase still needs to fund and record before your purchase is considered closed.  Funding and recording can take up to 24 hours or more to occur.  This is the tricky part!!  You will want to try to sign all the closing paperwork no later than Friday, November 27, 2009 in order for your transaction to be considered closed by November 30, 2009.

With all that said, and to be on the safe side, you would want to have an accepted offer on a home no later than November 2, 2009 .  Whoa!!  That is not too far away!  So, be sure to double check your time frame with your lender, and feel free to call or email me with any questions that you might have with the purchase of your new home