New Homebuyer Tax Credit Bill To Be Signed Today!

What are the specifics?  Well you'll be able to use the $8000 on contracts through April with some expanded income qualifications.  And you'll be able to qualify for up to $6500 even if you're NOT a first-time buyer.  You will have to have owned your current home for 5 years.  This leaves some people out who could really use the $6500, but hopefully it will lead to better inventory for all the first-time buyers.

Check out this news brief from the National Association of Realtors for a break down of changes from the old bill:  http://www.mnrealtor.com/AM/CM/ContentDisplay.cfm?ContentFileID=2950&MicrositeID=0&FusePreview=Yes

One comment

  1. Well it went through. If we could only get some securitizing for Jumbo mortgages. Without government backing they are hard to get. the banks don’t wnat to hold them.

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