American Recovery and Reinvestment Act of 2009 - $8000 to buy a house!
FIRST TIME HOME BUYER PROGRAM
The original version of the the Stimulus Package's "Home buyer Program" - introduced by Georgia Senator Johnny Isacson- called for a $15,000, tax credit for all home buyers. When that proved too costly for Congress, we ended up with a revised and improved first-time home buyer program. The revised first-time home buyer program is an $8,000, tax credit available to singles making less than $75,000, and married couples making less than $150,000. Unlike last year's version, there is no payback as long as the home buyer(s) stays put for three years. By the way, a first-time home buyer is defined as a home buyer who hasn't owned a primary residence for three years.
The bottom line - interest rates have fallen to rates we haven't seen since 1971, homes have dropped to 2002 prices, and the Federal government is willing to pay $8,000, to get you to buy a new home. If you have a job and decent credit (you can check it for free www.freecreditreport.com) there has never been a better time to buy a home!