First-Time Homebuyers Tax Credit: Will It Get Extended?
The credit for first-time purchasers is scheduled to expire November 30. Meanwhile, housing lobbyists are busy at work gearing up a major campaign to extend the $8,000 home buyer tax credit.
Home builders, Realtors and the Mortgage industry mounted an aggressive campaign during the recent congressional recess.
The expansion — or, at a minimum, extension — of the $8,000 first-time-home-buyer tax credit is at the top of the legislative agenda for the Mortgage Bankers Association, with one of the MBA’s leaders saying the trade group is “very close” to winning that battle in Congress.
The Effects of the Tax Credit So Far
Nationwide, pending home sales have been on the rise for seven months in a row, according to the National Association of Realtors. But just as auto sales dropped sharply once the government’s Cash for Clunkers program ended, real estate pros are bracing for a letdown if this tax credit disappears.
The IRS estimates that 1.4 million taxpayers have utilized the program. At these numbers, the total cost of the tax credit is slightly over $11 billion or less than 4% of the overall stimulus package (didn’t AIG get about fifteen times that???).
Hawaii VA Loans had the opportunity to support a two great causes on September 26th, when it co-sponsored the fourth annual, “Fight Gone Bad” event held at
We often get the question from first time homebuyers, “How do I pick a realtor?” It’s a great question and there are several angles to take and nuances to consider. First and foremost, if you are looking to buy a home, you should obtain a Realtor© to help you. The best part of doing do is that obtaining a Realtor should cost you nothing. Realtors, even your (the buyer’s) realtor, are paid by the seller of the home. So don’t worry about price shopping, all you need to shop for is service.
es·crow (ěs’krō’, ě-skrō’)



Hawaii VA Loans.com is not affiliated with any government agencies. Hawaii VA Loans is an informational website provided by VA Approved Lender, HomeLoan Financial - a division of Land/Home Financial Services, Inc. All Content Copyright © 2007-present Hawaii Va Loans.com. All Rights Reserved.