My Real Estate Blog

The end is nearing for the first-time homebuyer tax credit. In order to qualify, homeowners must close on or before midnight on November 30th of this year. The national Association of Realtors estimates that close to 2 million first-time buyers will have taken advantage of the $8,000 tax credit this year.

Qualified Illinois first-time homebuyers have a double advantage utilizing the tax credit with the Illinois Housing Development Authority's new Illinois Start Loan program. The Home Start program offers a 30-year fixed rate amortized loan insured by the Federal Housing Administration (FHA) along with a zero-interest, short term advance loan of up to $6,000 to use toward a down payment on their home purchase and to be paid back when they earn their tax credit in 2010.

Many first-time homebuyers are unaware of the tax credit, and the Illinois Home start program. Don't be left out.

For more information see: http://www.yourIllinoishome.com