Another "New Homebuyer" Success Story...How To Buy a House and Make $12,000?

One of my clients just purchased a new home today and is a "First Time Homebuyer" (which means he has not owned a home within the past 3 years)!

The details:

Almost new, partial brick home, listed for $150,000 under contract for $148,000.

The sellers agreed to pay $3,000 toward his closing costs (net sales price is $145,000).

He was approved for a FHA loan at a 5.25% interest rate, which only required 3.5% as his down payment (today, he brought a little over $5,000 to closing, which were partially gifted funds.)

The property appraised for $157,000 (he already has $9,000 in equity!)

And.... He will get $8,000 back on his taxes from the New Homebuyer Tax Credit, when he files his taxes...

a net gain of about $12,000 for him! CONGRATULATIONS!

Do you know someone who should be taking advantage of this opportunity before the November 30th deadline?