Eugene Loan Guy

Yes, it is still a question as to whether or not the Congress will extend the First Time Home Buyer Tax Credit. Hopefully we will know soon. Right now, we are waiting for the House to pass something and then for a conference committee to find common ground on what, if any, extension will be coming through and then for the President to sign the new legislation.

According to what I have read, the Senate version will extend the Tax credit until April and then the buyer will have more time to close the loan, just have the offer in by then. Additionally, there is a provision for increasing the income limits for qualifying and allowing a reduced credit for non first time home buyers. All of these provisions are still up in the air until we have the final version from the conference committee.

In the meantime, if you are waiting, you could still miss the boat. We are less than 30 days remaining, and only 18 work days, which is pretty short time to process and close a loan, but possible. If you are willing to get started, call me today at 541-342-7576/541-221-3455 cell or e-mail me.