Great news is on the horizon for first time homebuyers. On November 6, 2009, the government initiated a law that extends the first time homebuyer credit for an additional five months. This law is not just for Texas mortgage owners but anyone in the entire nation seeking a new mortgage.
As consumers, anytime we can grab an additional tax credit, it is great news. An extension that allows us more time is even better. While the maximum credit amount is anchored at $8,000, there is an additional “long-time resident” credit of up to $6,500 for those who do not fall into the first time homebuyer category.
Are You Able to Benefit from this Law?
While this tax extension is great news for some, for others it may not be. For those experiencing rejection for mortgage loans due to bad credit, this news doesn’t mean much. That’s where we come in.
Our specialty is credit repair for Texas based clients, but we do work with clients all across the nation. We improve credit scores on a daily basis, especially in regard to mortgage loans. The foundation of our company is built on improving credit scores for those seeking mortgage loans.
While this new law differentiates between those purchasing before or after November 6, 2009, in regard to modified adjusted gross incomes (MAGI), in both regards those with income over a certain tier do not qualify. Nor does this credit apply to any home being purchased at $800,000 or more. Most of us don’t need to worry about that.
However, if you are wishing to take advantage of this tax credit extension for first time homebuyers, but have some challenges with your credit score, we can help. We can not only enact credit repair to get your credit file where it needs to be in order to get a decent interest rate, but we may be able to get your credit file completely reworked in as little as two weeks.
Rapid Rescore for Texas
Through Rapid Rescore, a program catered for mortgage loans, we can work your credit file at lightning speed. Not everyone qualifies for the Rapid Rescore program, but if you do it can be a great advantage for you.
For more information on the new first time homebuyers tax extension law, why not go straight to the source? Read the full scoop here: First Time Homebuyer Tax Extension Law.
For more information on credit repair and Rapid Rescore, please visit us at Turn-Key Credit Solutions.
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For easy reference of the readers, these data are found in the Bureau of the Treasury's statistical series published in BTr's website. debt consolidation
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