Updates on First Time Home Buyer Credit 2010

With only two weeks left until the first time home buyer credit expiring, many people are wondering if the government will extend this program again. After the first extension of this $8000 non-refundable tax credit, many first time home buyers rushed at the opportunity on closing, to get the credit.

Recent home sales indicate that this is not the case the second time around. Home sales are down, and it is evident that the rush to buy homes is not met with the high demand many people thought. Even with the Move-Up/Repeat Homebuyer credit at $6500, the sales have remained flat.

Recently however, the government decided to give any active duty military an extra year to find a home, and still qualify for the $8000 first time home buyer credit. They have until April 30th, 2011 to find a property, and go under contract, and June 30th, 2011 to close.

With many military veterans coming back from Iraq and Afghanistan, many veterans will be in military housing in Colorado and Colorado Springs, as they come back stateside.

For any military or non-military people looking to get qualified for a new home loan, call Brian Quigley at 720 949 5630 with The Mortgage Network

www.beaconlending.com for the fastest online APPROVAL ON THE NET!