After months of economic freefall, weeks of political wrangling, and 800 billion dollars, the bill finally passed by Congress and signed by President Obama has some real help for first-time homebuyers. The details add some complications - call me and I'll talk you through them - but the basic benefit is an $8,000 tax credit for new homebuyers whose income is below $75,000/year for an individual, or $150,000/year for a couple.
A tax credit is ALMOST like money in your hands - it gets deducted directly from what you owe the Federal government in income tax. It brings you that much closer to the home your family needs; it expands your buying power and helps you build equity in a home of your own instead of spending money on rent.
But there's a clock ticking on this great incentive: It's only good until December of this year. Now's the time to start looking for that home you've dreamed of. Prices are LOW. Interest rates are LOW. And the Federal government has $8,000 to help you. Call me!
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