Unfortunately, I agree with Mickie08. I was told by one IRS agent that if I paid the amount owed (which would be $8k more than what I'd owe if they'd give me the transcript so I could close on the house and get the FTHB credit) that the returns would process within 3 weeks. I then spoke to another IRS guy who said that if I paid the taxes, it was a crap shoot...the returns would either process faster, or there would be absolutely NO reason for them to process them until dead last, since I wasn't due a refund AND I didn't owe. No way am I going to give the IRS $8k that I don't owe just so they can hang on to it for 8-10 months like I've been reading about on here. So there you have it. My loan commitment letter expires on April 15. I was under contract the 3rd week of January. Once the loan commitment expires, I'm giving up and going to talk to the sellers about a contract sale with a real estate attorney. That's the only solution to this mess that I see. I'll keep the board posted! 
Hi, NM:
Yes, I have a resequence code, but it was only supposed to delay the processing by 2 weeks. The tax advocate said the case worker was supposed to have everything done by April 5, but as of today, it still isn't done (I've already made my daily calls to both the IRS 1040 line and the advocate). I was also told by a couple of representatives that balance due returns don't start processing until the 20th week of every year, but then I've heard as many different stories as I've made phone calls. It's now to the point that when I called the 1040 line today, I got a representative I had already spoken to earlier this year! So now I'm cycling through their reps again! hahaha!
I don't know about your situation, but this transcript has been the only thing holding up my closing. I would say that once you have the transcript, everything else should be able to be taken care of very quickly. Even underwriting was not as painful as this. I was able to provide them with every document they needed within a matter of an hour or two per request. But if I had to do it all again, I would wait until I knew the transcript was available before putting in an offer. In this way, you'll know if the June 30 deadline is viable or not. Problem is, if your returns aren't processed by April 30 and you aren't under contract by then, the credit won't be available. That credit was one of the main reasons I wanted to buy now, as well, but far from the only one. I think the market right now is prime for buying, plus I need more space. And I've rented all of my life, so I'm tired of it. I was talking with a person in a similar situation, and he paid his balance due. His returns were processed 3 weeks later, and his transcript was available the following Monday. But that's only 1 instance. Additionally, I don't have an extra $8k lying around that I can tie up with the IRS for the next several months.
So, right now, my plan is to give this until April 15. If my returns are not processed by then, I'm going to approach the owners about buying their home on contract. I'll do it for 1 year, then I should be able to have enough money saved that I can go the conventional loan route and none of this will be an issue. We'll see! Good luck to you!