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How does the new stimulus package for first time home buyers work? Can anybody explain?

  • February 16 2009 - Kouts
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Answers (2)

The Kouts ,Hebron areas and further south do qualify for USDA loans.  These are no money down rural agricultural loans.  The cut off is 350 South when you round the curve coming in to Hebron just north of town. 

Christine

  • March 16 2011
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The latest help is an $8,000 tax credit to first time home buyers, meaning you'll receive an extra $8,000 in your federal refund next year when you file your taxes (assuming you get a refund)

It was recent $7,500, but you had to pay it back at 0% interest. Now you do not have to pay it back as long as you stay in the house for 3 years.

Pretty sweet deal!

P.S. Income limits for this credit...Singles, under $75k/yr and Married, under $150k/yr

Hope this helps!
  • February 18 2009
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