Home Buying in Lake Charles>Question Details

Allie, Other/Just Looking in Lake Charles, LA

what are the differences with military first time home buyers?

Asked by Allie, Lake Charles, LA Fri Aug 20, 2010

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3
Hi Allie,
The biggest and best advantage is that any member of the military or federal employee actively serving outside of the U.S. has until April 30, 2011 to get the home of their choice "Under Contract" and until June 30,2011 to actually close on the home and they will still get the $8,000 First Time Home Buyer's Tax Credit. In addition to the tax credit they can also get a VA loan which is at a better interest rate and 100% financing. If I can answer any other questions, please don't hesitate to call me on my cell, (337) 884-5214.
Thanks Tammy
1 vote Thank Flag Link Mon Aug 23, 2010
The biggest difference is that the (up to) $8,000 Home Buyer Tax Credit was extended for members of the military and certain other Federal employees. See the article on the IRS site:
http://www.irs.gov/newsroom/article/0,,id=215594,00.html

Essentially it pushes out the dates by one year, allowing these folks to buy a home and get the tax credit that they may have missed out on.
0 votes Thank Flag Link Sat Aug 21, 2010
does the person serving or who has served in the military eligible for a VA loan?

Give me a call, I would love to discuss your possibilities

1-225-291-9700

or email: michael.andries@nflp.com

Network Funding - Baton Rouge
Loan Officer
0 votes Thank Flag Link Sat Aug 21, 2010
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