I'm noticing an increasing number of clients that don't seem too concerned about the $8000 and $6500 the government has served up on a silver platter. I'm going to do a little point-counterpoint.
Concern #1: My lease isn't up until this coming winter and I don't want to pay all that rent and a mortgage.
Response: If you don't actually close till June, your first payment wouldn't be until August. Even if your lease isn't up until December you're only out a few months rent. Surely your 8000 in your pocket can cover those costs and still have some left over. Besides, how often do you actually move in the same week you close? You'll want to paint, carpet, etc.
Concern #2: What if I lose my job?
Response: Housing is a sunk cost- you have to pay to live somewhere. As long as you don't over-buy your monthly payment could be the same, if not less, than your rent. If you're still worried, use the 8000 as a rainy day fund in case you need it to cover several months of payments during a layoff.
Concern #3: Aren't prices just 8000 inflated right now?
Response: I heard this from a financial representative for a large company. Pray he doesn't manage your money. This makes no economic sense at all. The supply and demand determine the value. We're still deep in a buyers market.
Concern #4: I don't actually get the money for good do I?
Response: A lot of people think they have to repay it. You don't. (Assuming you don't violate any of the caveats)
Concern #5: I'm too lazy to get with the program in such a short amount of time.
Response: I'll push, poke, and prod you if I have to. This type of credit might never come again. In fact, I hope we never need it again. I'll make your life as easy as possible... You'll find your dream home in 1 or 2 trips out with me. You can spare a couple Saturdays. I'd work for $1000 an hour and so should you. Give me 8 hours and we'll find you something great!
Hopefully this helped inspire you to make one last push to find a home before the credit expires. Call me today to start looking for your dream home.