D.C.'s Latino Home Buyers Scramble to Meet Deadline

By Mana Rabiee
|  Monday, Oct 19, 2009  |  Updated 7:30 AM EDT
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D.C.'s Latino Home Buyers Scramble to Meet Deadline

AP

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An agency helping D.C.'s Latino community jump on the property ladder is shifting into high gear, as the deadline approaches on a federal tax credit for first-time home buyers.

The Latino Economic Development Corporation helps low-to-moderate income residents buy their first home using government programs -- such as the $8,000 credit for first-timers who close by Nov. 30.

Eric Qutierrez helps run the non-profit corporation, located in Northwest D.C. near Columbia Road, a traditional stronghold of the city's Hispanic community.

"There has been a surge of applicants interested in buying a house," Qutierrez said.

Nancy Miranda, a Remax sales agent in D.C., works closely with Qutierrez's clients. She said her clients are crossing their fingers that their banks will finalize loans in time to meet the deadline.

"It is definitely crunch time," she said. "A lot of them are counting on this money to remodel the homes that they're planning to buy."

The city offers $5,000 tax credit to buyers who do miss the deadline.

Listen to the complete story at wamu.org

Copyright 2009 WAMU 88.5 - American University Radio. All Rights Reserved.

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