Sunday, February 28, 2010

If i plan to buy house this year can i get the tax credit before i purchase the house?

no.If i plan to buy house this year can i get the tax credit before i purchase the house?
Generally no, but if you live in MO, maybe. The state of MO is offering short term loans equal to the credit that you are eligible for. This allows you to be able to use the funds for closing on the property only, i.e. for down payment or closing costs or for renovations as stated in the purchase and sale agreement. Any MO Realtor can assist you with the program. Other states may offer a similar program so check with a local Realtor.If i plan to buy house this year can i get the tax credit before i purchase the house?
No. It is a reward for actually buying. You must close escrow by Nov 30

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