Yes, However you must close escrow on the purchase of the home within the time frames outlined by the IRS. It appears as though the tax credit will be extended to April 2010. Your purchase escrow must close prior to the that date. This is not to be confused with the construction financing. This is the actual take out financing once the home is completed and you have a certificate of occupancy.

Someone may want to verify this information to be accurate but that is how I understand it. Good luck!

Diane Wheatley, Broker
diane@moveupproperties.com