The latest report on the economic stimulus package is excellent news for first time homebuyers. It provides an $8,000 tax credit that does not have to be repaid and extends through Dec. 1, 2009. Unlike other proposals, this tax credit is fully refundable (claimable) regardless of an individual's tax liability. It is a true credit with no repayment provision!
This news, combined with historically low interest rates, should provide incentives to all first time buyers. Now more than ever, it's important to connect with a real estate agent who can present the myriad of opportunities for home ownership.
