Waiting for the right time to buy a new home?

Uncle Sam is giving up to an $8,000 tax credit (this one doesn't have to be repaid) for first time home buyers who havent owned a primary residence in the last 3 years or $6,500 for qualified move-up or repeat home buyers.

• 10% of the purchase price, up to $8,000
• $125,000 single income limit and $225,000 for married couples
• Partial credit for incomes of more than $125,000 for singles and $225,000 for married couples
• If your tax liability is less that $8,000 you get a refund for the difference
  
  

                  The Tax Credit has been extended!!
  Your New Home must now be purchased (closed) by
       April 30, 2010 and completed by June 30, 2010!



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Today's 30 year mortgage rates average 4.75%.*
In May of 2006, 30 year mortgage rates averaged 6.6%.

 

Mortgage rates are at historic lows

 

On a mortgage amount of $220,000 you could save $257.00* a month
and $92,675 in interest* over a 30 year mortgage!!!

If rates go back up, that same payment may only afford you...

• $180,000 at 6.6%
• $156,000 at 8%
• $143,000 at 9%

With mortgage rates at over 30 year lows and the tax credit about to expire, can you afford to wait?

*Mortgage amount based on estimated principal and interest payment of $1,150. Taxes and insurance not included.
With approved credit. Mark Payne Homes is not a lender. Rates may vary according to lender and are subject to change.