If you are thinking about buying a home for the first time, I would like to ask, "What are you waiting for?" Rates are still at their lowest levels in 50 years, home prices are ripe for great deals and the government is giving a huge tax credit to First Time Homebuyers, $8000 to be exact.

You can still take advantage of the tax credit offered by the government. In order to qualify you need to have an accepted contract no later than April 30th, 2010 (That doesnt mean you have to be closed, just under contract). You need to close no later than June 30th, 2010 to qualify for the tax credit. That gives you 90 days to find a house, get an accepted contract and close the deal, which is plenty of time considering the average closing time is 30days.

Still not convinced you should get to looking for a home? Once you close on the house you can ammend the tax returns you file this year to get the $8000 within 4-6 weeks. That means if you closed on your new house on May 15th, you would have your 1st payment due on July 1st, which is about the same time you would receive your check for the tax credit. You could use the tax credit money to pay your first several payments and still have enough left over to buy a new TV.

So if you're still sitting there and not picking up the phone it's for 1 of 2 reasons

1) I don't think I could ever qualify to buy a house

2) The Media says lenders are not lending any money and I might get turned down

1) If you don't think you can qualify you need to start somewhere. I would urge you to at least look into everything to see where you stand. I counsel clients all the time on what they will need to do to qualify to buy a house. Many of those people find themselves in a position to buy in 3-6 months (I know you wouldn't get the tax credit, but you would be a homeowner) The best thing you can do is get information, I don't charge clients to have an initial consultation. In that consultation we will review your credit and income situation to see where you are at and where you need to be to get qualified. Then I give you an action plan to work on over the next 2-6 months. If you follow the plan you will be able to get qualified soon.

2) I know the media says that lenders will only take clients with Credit scores over 700, you need to have 20% down and people are being turned down for no good reason . . . These are ALL LIES!!!! The truth is, lenders only make money if they lend money. There are plenty of good programs available for people who's credit is less than perfect and there are still programs that will finance up to 100% of your purchase price. Yes, lenders have tightened up their requirements but that doesnt mean theyve stopped lending. The biggest difference is you need to find someone who is a true expert in Mortgages, so they can help you navigate through the requirements.

The $8000 First Time Homebuyer tax credit is going away soon, don't miss out because you were misinformed.

Now is the time to get qualified, I can usually approved clients in less than 24 hours; meaning you can be looking for houses tomorrow. I am always open to helping new homebuyers work through the lending maze; from getting preapproved, to the final close I will guide you through every step to answer all of your questions. When you get a mortgage you need to be 100% comfortable with what you are getting because it's YOU that will be making the mortgage payment. I am available by phone or email

Eddie Stephen (303) 800-2760, [email protected]

www.edtheloanguy.com