$8,000 for First Time Home Buyers?
As part of the most recent STIMULUS package or Economic Recovery Program, first time home buyers (anyone who has not owned a condo, townhome, or single family home in the last 36 months) have been given an opportunity to take advantage of an amazing offer made by the Federal Government.
Close on a home (condo, townhome, or single family home) between 1/1/2009 and 11/30/09, and if you meet the guidelines of the income parameters, you will receive an $8000 tax credit which does not need to be repaid (as long as you stay in the home as your primary residence, and do not sell it for a minimum of 3 years). This is enough money to help some with the downpayment requirement, or for furniture to furnish your home, or for closing costs and buying down a lower interest rate. Of course, seek the help of a Real Estate Professional (such as myself) and any/all other professionals prior to taking any action.
If you have good credit, verifiable employment for two years, and an income that would be able to handle the cost of a mortgage, taxes, insurance you may qualify for this offer. Do not delay in making a call to your trusted lender to find out what your options are. What a great way to stop throwing money away as a renter. Become your own landlord!