Well time is definitely running out on the tax credit for Chicago first time home buyers. In order to take advantage of the first time home buyer tax credit you must have a signed contract to purchase a home by April 30th and close by June 30th. Now I know it may seem like April 30th is a long way off but trust now is not the time to procrastinate. We have already started to see an increase in Chicago first time home buyers who are ready to write an offer on a home. Underwriting times at lenders are still reasonable, typically 48-72 hours. As we get further in to April I can definitely see those times doubling or tripling.

If you are in the market to buy a home and have not gotten prequalified yet do not wait too much longer. Pick up the phone and give me a call or send me an email to get started on your prequalification. We can typically have you prequalified within a couple hours of receiving the necessary documentation. Chicago first time home buyer should not hold out hope that the tax credit will be extended. When was the last time Uncle Sam was giving away $8000 to regular people like you and me?