You're probably up to your neck by now in forms and paperwork as the April 15th income tax deadline approaches. Maybe you've already completed your taxes, paid your bill, or are awaiting your refund check. Either way, now is the perfect time to revisit the extended and expanded Home Buyer's Tax Credit.

Why? Because now, as you calculate your tax bill or your refund, you can finally see in real terms just how beneficial a tax credit of up to $8,000 can be to your bottom line.

Here's the basics:

Qualified 2009 and 2010 first-time home buyers can get up to 10% of the home's purchase price or a maximum of $8,000. In November 2009, legislation extended a tax credit of up to $6,500 (or up 10% of the home's purchase price) to long-time residents of the same primary residence if they purchase a new main home. To qualify, eligible taxpayers must show that they lived in their previous homes for a five-consecutive-year period during the eight-year period ending on the closing date of the new home.

Important details to remember:

1) You don't have to pay it back (as long as you stay in your qualified home for at least 36 months).

2) If you qualify for the credit, you can still apply it to this year's taxes, even if you've already filed your returns, or save it for your 2010 returns.

3) This is a true tax credit, not a deduction. If you qualify for the full credit, there will be an actual dollar-for-dollar reduction of up to $8,000 (or up to $6,500 for qualified repeat buyers) on your tax bill now or in 2010.

4) New income qualification limits have been put in place that expanded the pool of qualified buyers.

5) If you purchased a qualified home or plan to after reading this article, you must have a contract in place by April 30, 2010 (with closing to take place by June 30, 2010), so don't wait!

There are, of course, other details and qualification requirements and restrictions that you'll need to consider. But don't hesitate to give us a call if you have any questions. Also, if you happen to have your completed 2009 tax return handy, we'll help you calculate how much money you can get if you purchase a home and qualify for the full credit.

There's nothing more exciting than opening the door to your first new home and knowing that it's actually yours, that you actually own it! No landlord bothering you about every little thing. No silly rules about what colors you can paint or what renovations you want to make. Finally you can do whatever you want to do in your home!

And while this is a great feeling, and the pride you feel is natural and well deserved, don't allow yourself to get too carried away with your newfound freedom. You worked hard to earn this opportunity and you don't want to potentially jeopardize your investment by letting your emotions get the better of you.

If you've recently bought your first home or you plan to do so soon, take a few moments to think about the practical side of home ownership before you start making any major changes or renovations. Doing this will help ensure that your first home becomes the personalized place you always wanted and worked so hard to get.

Get properly insured – Before you decide to build or tear down anything, be sure that you are properly insured. Even if you enjoyed the full $8,000 tax credit for first-time home buyers (or the full $6,500 tax credit now available to qualified "repeat" buyers), sit down with your insurance provider and make sure you're covered on all fronts before you do anything. It doesn't make sense to spend your tax money upgrading your home if you're not protected in advance.

Maintenance before makeover – It's true that you no longer have a landlord looking over your shoulder for every little thing. But, you also don't have a landlord to turn to if something should go wrong. So, before you think about beautifying your new home, think first about fortifying it. Invest in necessary repairs first and avoid surprises down the road.

Go with the pros – When the time does comes to make those changes, be sure to hire the best, most qualified people. This doesn't mean you can't paint or do the little things that can make a big difference. But when it comes to the big stuff, hire the pros for the best results and to avoid injury. Remember, your new home is an investment and it deserves the highest care and attention you can give it.

We can help you find your new home and help with the financing!  Give us a call at

(314) 993-6690 for more information.

Here are a few websites that will help you find the best deals on services or products and let you keep more cash in your pocket.

InsuranceRates.com. This new site from the folks at InsWeb.com lets you shop for auto insurance rates without divulging too much personal information. Insurance expert Kimberly Lankford says the site provides quotes from a lot more companies than InsWeb did. It also lets you request your top priority for the quotes -- established company, multi-policy discount, ability to buy online or just price.

MiNeeds.com. If you're looking for a contractor, lawyer, photographer or any service provider, you could get out the phone book and call every listing to get price quotes. Or you could post your need on MiNeeds.com and get bids back from local providers, along with credentials, ratings, reviews and more. This site helps take the hassle out of finding affordable service professionals. However, MiNeeds.com really caters only to major markets (although its cities by state list includes practically every city).

Mr. Free Stuff. The name pretty much says it all: The site lists offers for free stuff daily. What we really like is the site's blog, which has loads of ideas on how to get or do things for free – such as free date ideas, free ways to burglar-proof your house and free things to do in Orlando.

Netted. Sign up at this site, which launched in February 2010, to get free daily e-mails that highlight Web sites, smartphone applications and services that make life better. Many of the recommended online tools will help you save money, but be forewarned that Netted isn't dedicated solely to discovering personal-finance related sites. But that's okay -- saving money isn't the only thing that makes life better.

eDeals.com. This coupon code site isn't new, but it just teamed up in February with direct marketing company Valpak to provide printable, local coupons. Shoppers click on the printable coupons tab at eDeals.com, which recognizes their location and provides coupons for services and restaurants in that area.

Be sure to give us a call or check out our website:  www.4stlloans.com for current mortgage rates and information or call us at (314) 993-6690.