Stimulus package provides $8,000 tax credit for first time home buyers
The final version of the new stimulus package for 2009 includes an $8,000 tax credit for first time home buyers. Although many believe this tax credit won’t provide any immediate stimulus to the economy or fix the housing situation it’s still something to consider.
The original stimulus package proposed a $15,000 tax credit for anyone who purchased a home this year. Last year a $7,500 tax credit was allowed for first time home buyers, but the money has to be paid back interest free eventually. This new tax credit is completely free to first time home buyers.
If you have been thinking about buying a home this is definitely the time to buy. Home mortgage interest rates are close to an all time low, home prices have plummeted over the past year, and now an $8,000 tax credit. It makes me wish I hadn’t purchased a home until now! Take advantage of this wonderful offer and consider purchasing a home this year that you can afford!
August 26th, 2009
[...] but this months increase was much greater than expected. Low prices and the federal tax credit/housing stimulus program offered by the governemnt to first time home buyers was probably a huge boost to the [...]