$8,000.00 Buyer Stimulus "Do You Qualify?"

Today's renters are making mortgage payments for the landlords.  If you have not owned a home in the past three years or are a first time homebuyer, have a credit score of 620 or more, you could possibly qualify for the $8,000.00 if you purchase before Dec.1 2009.  If you pay rent of approx. $800 per month, you could buy a home around $115,000.  So, depending on where you live, this could be a great time to invest in your future.  The $8,000.00 only has to be repaid if you do not live in the home for three years.  It will take approx. 3% down if you finance through an FHA loan.  This is pretty close to what it takes to get into an new rental unit.  If the seller pays your 3-4% closing costs, you can get in for very little.  Some areas even offer matching down payment assistance programs and additional grants.  So if you are thinking about making the move to home ownership, This is Your Year!
  • March 25 2009 - Kennewick
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Answers (1)

Don't forget, neither spouse can have owned a home in the past 3 years, and you must be a US Citizen, you can't buy the home as a rental, and it can't be purchased from a relative.

Otherwise, it's one of the best tax credits we've seen in years. 
  • March 25 2009
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