As most of you know, the $8,000 dollar tax credit for first time homebuyers is going away November 30, 2009 (less then 5 weeks away). Although there have been Congressional maneuvers to extend it, nothing has been formalized yet.
To that end, please make sure you leave enough time to get your purchase closed. Every lender will become swamped with purchase loans needing to be closed in time for the current November 30th deadline. It’s important to note that many lenders don’t require an appraisal to submit a purchase loan to underwriting- this allows you to get started with the processing and preliminary underwriting. Most- if not all- lenders, however, will require a purchase contract.
If you are still considering taking advantage of the $8,000 tax credit, it is imperative that you submit your purchase transactions right away to your lender to have an opportunity to close on or before the end of November.
Email me 7-days-a-week with questions, comments or to run financing scenarios.
Mark Zaidan, Licensed Mortgage Lender
First Time Home Buyer in Maryland, DC and Virginia
- Mark Zaidan
- Bethesda - Chevy Chase, MD
- Mark Zaidan came to mortgage banking from a journalism and advertising background. He previously worked with The Washington Times International Reports as the Director of International Projects. He now has over seven years of experience in real estate finance and investment with Meadow Financial, The Davari Companies and Choice Finance, respectively. Mark has the knowledge crucial in today's fast changing mortgage industry. He is licensed and works in Maryland, Virginia and the District of Columbia. Mark enters every transaction with the goal of offering his clients the lowest rate with personal service. This approach has garnered praise from clients and spurred a thriving base of referrals. Mark is married to his high school sweetheart and they recently had a baby girl. Together, they live in Chevy Chase with their hyperactive Weimaraner named Gracie. In his spare time, Mark is an officer and serves on the board of the Kiwanis Club of Washington DC, is a member of The John Carroll Society and supports The Yellow Ribbon Fund.
