For the entire month of April the idea of a first time home buyer tax credit extension was on the mind of many first time buyers. Unfortunately, the $8000 and $6500 Obama credit expired on April 30, 2010. It is no longer the case that any buyer can qualify for a tax credit when buying a new home.


Just because there is no first time home buyer tax credit available it does not mean that now is not an alluring time to purchase a home. With mortgage rates extremely low and home prices very affordable there are some amazing deals in several housing markets. Before making any final decision it is very important to understand that you must be able to make your mortgage payment before making a home purchase.

Unfortunately, in the past, many Americans felt that even though they could not make their mortgage payment they could find a way to make ends meet financially. The old adage that history repeats itself often reigns true. Do not let yourself be a part of history and make certain that you can make your mortgage payments on time and in full before making a home purchase.

Author: Alan Lake