President Bush signed the The Housing Stimulus Bill (H.R. 3221), which has a key provision for qualifying homebuyers: a $7,500 tax credit. The $7,500 tax credit that would be would be available for any qualified purchase between April 9, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan).
The National Association of Realtors has put together two good documents summarizing what this might mean for you:
What is the First-Time Home Buyer Tax Credit?
The Tax Credit is part of the Housing and Economic Recovery Act of 2008, signed into law on July 30, 2008.
The intent of the tax credit is two fold:
- To provide a financial resource for home buyers in the year that they purchase a home
- To provide a stimulas to the housing market and the economy, helping to stabalize home prices and increase home sales.
First Time Home Buyers… Give Tyler Ford and Todd Abelson of Sunstreet Mortgage, right her in Tucson, AZ, a call so you can take advantage of this $7,500 tax credit.
PS: First Time Home Buyers receive the tax credit with any loan program: FHA loans, Conventional loans, VA loans, etc.
For more info visit: www.GetHomeGetCash.com
CALL US @ 520-331-LEND (5363)
Recent Comments