Here's a summary of the Bill and how it affects buyers, particularly First Time Home Buyers...
Great news for first-time home buyers. The Federal Stimulus Bill of 2009 provides great incentives for those interested in purchasing homes this year. While many homes are at an all-time low price, this is the time to get serious and start looking. While prices might drop slightly as the market turns, the home of your dreams may be purchased by someone slightly quicker to make a move. Don't delay any longer if you are seriously interested in finding your dream home.
The jist of the new law is as follows:
1. Up to Eight grand for new buyers: This credit is equivalent to 10 percent of the purchase price of the home--although it's capped at $8,000--and applies only to first-time home buyers and principal residences. This credit does not have to be repaid.
Recent Comments