As of right now there is very little chatter in DC about extending the credit. So, we basically have 72 hours to have a complete (executed) sales contract. That’s not much time, but it’s doable. I had the opportunity to speak on ABC news last night about the pending deadline. Here is the link for the short clip:
ABC Nightly News – Clip on Expiring First Time Home Buyer Tax Credit
Of course, you have until June 30th to close and fund on your new contract. There’s always the lingering question about finding another house after the April 30th deadline because of repairs or option period reasons.
The 60 days you have close on the house is plenty of time for a fha or conventinal mortgage. Houston FHA loans at Zeus Mortgage are are taking 3 weeks and low rate refinances are taking about the same time.
The Baldest Guy in Houston – Steven Kaufman at Zeus Mortgage.