$8000 First Time Home Buyers Tax Credit
While I won't get into what I don't like about these stimulus bills that the government keeps passing (with a seemingly limitless amount of money), I do want to stress one of the changes and how it affects first time home buyers.
Last year, first time home buyers were granted a $7500 tax credit that was to be paid back at a rate of $500/year for 15 years.
With the new stimulus bill that was just signed by President Obama, first time home buyers who purchase from Jan. 1st of 2009 through the end of the year will be granted a true $8000 tax credit. This money doesn't need to be paid back.
There are some income guidelines, but for the most part, everyone who is buying their first home will be able to obtain this credit.
Jason Tangen - GRI, e-PRO - Real Estate Broker Associate with Edina Realty St Cloud MN
http://StCloudEdina.com - Search real estate in St. Joseph, MN
http://JasonTangen.EdinaRealty.com - Home of the e-Market Analysis.
