Home Buyer Tax Credit $8,000

by Amanda Kate Harry Charlie

With President Obama signing the stimulus package , there is a brand new version of the tax credit for home buyers. You can of course get this credit when using your VA eligibility to buy a home. Here are some highlights:

2009 is a great year to buy, loan rates are very low, house prices are very reasonable and you get a tax credit for $8,000 if you buy a house.

The tax credit is only good until December 2009.

If you owe taxes the credit will go towards that, if you owe less than $8,000 you will get a refund. So if you owe $1,000 in taxes you will get a $7,000 refund.

2009 is a great year to buy if you are a veteran. Prices are low, Interest rates are at historic lows and now you get money from the IRS

You could use the refund to buy nice new furniture for your new home.

Additionally, the stimulus plan is raising the FHA and Fannie Mae and Freddi Mac loan limits back up to $729,000 in many parts of California. This means better interest rates and lower down payments for buyers in those higher price categories.

Call Rob 858-922-7899 (direct)

FHA and VA Loan Specialist

858-922-7899 (direct)

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