The first time home buyer tax credit has been a very popular subject in the month of April. Many first time buyers are looking to take the necessary steps to qualify for the first time home buyer tax credit of $8000 before April 30. With April 30 being just a few days away many people are wondering if there will be an extension of the $8000 and $6500 tax credit sometime this week.

At the current time it looks as if the first time home buyer tax credit and the move-up home buyer tax credit will expire at the end of this month. In November, the Obama administration decided to extend the first time home buyer tax credit through April 30, 2010. The current expiration looks as if it will not be extended which means that buyers need to take action soon.

 With mortgage rates very low, home prices being very affordable, and tax credits available for first time and move-up home buyers now is one of the best times in recent history to purchase a new home.  Before deciding that purchasing a new home is right for you it is extremely important to look at your personal finances and make sure you can afford your monthly mortgage payment.