First Time Home Buyers Stimulus: What Is It? Part 2

Now that we have touched base on just some of the incentives that are being offered up to home buyers, we are now going to talk about exactly what the first time home buyers stimulus is.  During these hard, hard economic times, it is pretty hard to imagine that whatever price you are looking for in a home, you are not going to get.  The cool thing about this particular program is that it is sort of like the cash for clunkers program – without you having to trade in your current residence.

I mentioned in the last blog about tax refunds and that is exactly what this particular program is.  You can a tax credit of about 10% but a maximum of about $8,000 – which is honestly a pretty good deal.  If you were going to buy a home anyway, this particular program is a fantastic one because you are basically going to be getting $8,000 shaved right off of the price right off of the bat!

Another cool thing about this program is that the tax credit is not refundable, so you do not have to pay it back in the end … which makes this deal that much sweeter right?