Last week, Congress voted to extend the First Time Home Buyer Tax Credit for an additional six months for any service member that served at least 90 days overseas. This is an excellent development for our VA Guaranteed Loan clients, not only can you get a mortgage with no down payment, no mortgage insurance, and expanded credit underwriting, but, if they are a first time home buyer, they also qualify for the up to $8,000 tax credit.

There is still a possibility that the tax credit will be extended for other buyers, but that remains to be seen. This extension is good in that it is very often not possible to close a VA loan within 30 days and we are fast approaching the November 30 deadline for the tax credit. This news report shows the limited time left for the tax credit.

As a former service member myself, I enjoy working with my fellow veterans. If you have questions about VA loans, please contact me at 541-342-7576/541-221-3455 cell or e-mail me.

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