San Angelo Real Estate: Tax Credit for First Time Home Buyers

8 08 2008

If you have not heard, George Bush signed a new bill to help stimulate the housing market. This will give first time home buyers the option to receive up to a $7500 tax credit. Although this will be a great option to look at for those buyers who do not earn more than the cap salary, it is not fool proof. This is a 0% loan that will be paid back over 15 years. I cannot go into all the details until I am fully versed by a CPA, but I will post a few links on the subject. The way I see it right now is that this will definately be a good thing for the economy as a whole. Another part of the bill helps out FHA loans that are being made. The drawback is that the money has to be paid back. Depending on your situation, this could put you in a jam down the road. My point is, DO YOUR RESEARCH. Feel free to contact me at any time if you have any questions.

Links I found

Yahoo Link

Home builder Link

Bill FAQ’s

My Contact Info

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