Congratulations to you and your fiancee, Kevin! You've already received helpful answers from my colleagues below.

I just wanted to encourage you to hire a Realtor to work for YOU as a buyer's agent. It will cost you nothing (since typically the seller pays ALL Realtor commissions) but will -- without a doubt -- save you time and money! The homebuying process can be complex...and, let's face it: it's probably THE most investment you will ever make. I always recommend that people interview 2-3 Realtors...and ultimately choose the Realtor who you feel is experienced, honest and who truly has YOUR interests ahead of anything else. (Prior to entering the real estate industry, I was a practicing attorney.....my clients appreciate my unique insight when putting together the agreement of sale and negotiating a transaction:)

I'd love to chat more with you...and find out what about the "wish list" you and your fiancee have put together for your new home....feel free to call me direct at (610) 324-5240.

Good luck and blessings to you.........

Warmly,
Judy

Judy May, Esquire, REALTOR
"A Refreshingly Different Real Estate Experience" http://www.JudysFineHomes.com
Judy.May@Century21.com

CENTURY 21 Alliance
2828 Aubudon Village Drive
Audubon PA 19403
O: (610) 666-0202 x. 226
C: (610) 324-5240 (preferred)
F: (610) 666-1942

Search 1000s of homes! http://www.CollegevilleAreaHomes.com

Kevin,

By now you've read plenty of responses to your question. Let's go find a house for you. We'll figure out how you get your credit, but first we need to find you a place to live that you're happy with. When are you available? How about this weekend? E-mail me and I'll send you a criteria sheet. Get it back to me when you get a chance and from there I'll build your profile and we'll see what's out there. Finding out your purchasing power is our first step. To make it as easy as possible for you, Prudential has a web site for you to go to where you can plug in your info to find out what you're good for. The web site to visit is http://www.tridentmortgage.com/. Click on "apply now" section. Non binding and non-contractual, it allows you to see where you and your fiance stand.

Looking forward to helping you find your home. My services are free to you.

Mike
E-mail - mikemelroy@msn.com, - 610-291-0812 is my phone number.

Hi Kevin - you should both be eligible (if you meet the other requirements) EACH to all or a portion of the tax credit. Unmarried joint purchasers are individually eligible. Your tax advisor can provide more information or visit my website page on the tax credit for more information or call me at (610) 828-9200. Have a nice day and good luck to you both

There shouldn't be an issue with claiming the credit as long as you settle before 11/30/09. For more details on the credit, visit the link below. Congratulations on both the engagement and decision to buy your first home. Good Hunting!

Kevin,

As far as the wording in the tax code goes you both should be able to receive your share of the credit. If you do your taxes on your own this might be the time to check with a tax professional that can tell you how you both will need to structure your returns next year. If one of you buys would you still qualify for a loan for the size house that you want to buy? Since you will be married in the furture you are more likely than not going to want to have both of your names on the deed to the house, so unless you make changes after the fact by adding one or the other to the deed, it makes sense to buy it together now and just both be named on the deed at the purchase. I would be happy to discuss with you further and help you through the process. Please feel free to let me know if you have any questions.

Andrew Himes, CRS, e-PRO, ABR
Prudential Fox & Roach Realtors Collegeville
267.231.8255
Andrew@AndrewHimes.com

Congratulations Kevin on your upcoming wedding and your decision to purchase a home! Phoenixville is so wonderful! I am the Top Realtor in Phoenixville and would be happy to discuss your needs and wants as well as send you available homes via email! There are great homes on the market and homes are ON Sale! Now is a terrific time to buy with the tax credit as well as the low interest rates. Wouldn't it be wonderful to have an experienced local Realtor to call everytime you have a question and to get that question answered quickly?

You can reach me at 610-999-7693 directly or at Sellinghomesjenn@aol.com at anytime and I'll be happy to go over the entire home buying process with you and answer all of your questions! Have a wonderful day!

Jennifer Daywalt, Realtor
Re/Max Results Realty
Top Realtor 2004, 2005, 2006, 2007, 2008
Phoenixville's Home Town Realtor!
610-999-7693 Direct
610-489-7355 Main Office
Sellinghomesjenn@aol.com

This is from the IRS form 5405 " If two or more unmarried individuals buy a main home, they can allocate the credit among the individual owners using any reasonable method. The total amount allocated cannot exceed the smaller of $7,500 ($8,000 if you purchased your home in 2009) or 10% of the purchase price."

"Note: A reasonable method is any method that does not allocate all or part of the credit to a co-owner who is not eligible to clain that part of the credit."

So according to the form, you can buy together though not married yet. Hope this helps!