Go Back   Mountain Buzz > Whitewater Boating > Whitewater Kayaking

Thread Tools Display Modes
Old 09-18-2009   #11
Kendo's Avatar
Denver, Colorado
Paddling Since: 1993
Join Date: Jul 2006
Posts: 155
The 8000.00 tax credit is only available to first time homebuyers and expires in october.. FYI

I am a Mortgage lender.

Kendo is offline   Reply With Quote
Old 09-18-2009   #12
Kendo's Avatar
Denver, Colorado
Paddling Since: 1993
Join Date: Jul 2006
Posts: 155
I meant to add I am not a Mortgage broker, so i couldnt do your loan, but could give any fellow paddlers some sound advice if needed!

Kendo is offline   Reply With Quote
Old 09-18-2009   #13
Carbondale, Colorado
Join Date: May 2007
Posts: 37
For clarity, First time homebuyers = anyone who hasn't owned in the last three years! Need to have a house under contract by the beginning of October since you have to close by October 30th to get the 8 grand.
RJennings is offline   Reply With Quote
Old 09-19-2009   #14
I'm wrong 50% of the time
brendodendo's Avatar
RFV, Colorado
Paddling Since: 1977
Join Date: Jul 2004
Posts: 857
Ummm. Hey RJ@M&M.com. Do your homework before saying rush rush rush.

I am not an agent and do not have any ties to agents, brokers, etc. I do live in the Roaring Fork Valley.

BUT: The 1st time HBC is good 1/1/09 - 11/30/09. It is 10% of purchase price or $8000 (cap). Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that's $150,000 for married couples. Those earning more than these thresholds may be eligible for reduced credits. The tax credit is "refundable," qualified buyers can take advantage of it even if they don't have that much tax liability. (you can possibly use it as a down payment) Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government.
Claimer: Someone that makes a claim that they have been there and done that, can do anything you can do better than you. I hate "claimers"
brendodendo is offline   Reply With Quote
Old 09-19-2009   #15
Carbondale, Colorado
Join Date: May 2007
Posts: 37
You are correct Brendodendo. My mistake. I must have read Kendos post stating October and obviously wasn't thinking when I responded. I don't care if they rush out and by a house or not but if they want the credit they should understand that it typically takes 30-45 days to close so they best find a house and get it under contract to be able to close by the deadline. Honestly, I counsel my buyers that they have a decision to make. It's a toss up whether you buy now or wait. Prices are almost certain to continue to fall through Winter and into Spring (thereby saving you the $8,000 anyways), however, interest rates are almost certain to rise which at some point will make your payment as high as if you bought now and the house may actually end up costing you more in the long run if you hold it for the entire, let's say, 30yr term. It really comes down to how motivated they are to get into a home right now.

If you've got any homework for me do send it my way, I'm not afraid of homework and I always like to learn from someone with more knowledge. If anyone has more questions on the credit I have a multipage FAQ doc that will answer any questions you have and more.

RJennings is offline   Reply With Quote


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Topic Thread Starter Forum Replies Last Post
Catching Z's in the back. Ideas? crane Whitewater Kayaking 7 02-10-2009 06:37 PM
Moving to Golden area. crane The Eddy 7 03-06-2007 08:42 PM
Moving to Denver and looking for a roommate-Highlands area pagel Whitewater Kayaking 2 05-19-2006 11:34 AM
Why Colorado snowpack sucks gapers Whitewater Kayaking 42 12-27-2004 04:49 PM
Glenwood Springs area backcountry Mut Winter Buzz 9 12-06-2004 08:57 PM

» Classified Ads
Jackson Rock Star(Medium)

posted by Paddling Life

Brand new 2016 Jackson Kayak Rock Star

Pyranha Burn 3 XL

posted by Rendezvous River Sports


Kokatat Dry Suit, Sweet...

posted by condor

Kokatat GMER, XXL, excellent condition, well cared for, no...

Powered by vBadvanced CMPS v3.2.3

Our Communities

Our communities encompass many different hobbies and interests, but each one is built on friendly, intelligent membership.

» More about our Communities

Automotive Communities

Our Automotive communities encompass many different makes and models. From U.S. domestics to European Saloons.

» More about our Automotive Communities

Marine Communities

Our Marine websites focus on Cruising and Sailing Vessels, including forums and the largest cruising Wiki project on the web today.

» More about our Marine Communities

Copyright 2002-2012 Social Knowledge, LLC All Rights Reserved.

All times are GMT -6. The time now is 02:01 PM.

Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.