Time is Running out on the Stimulus Credit!

First Time Home Buyers can put up to $8,000 in their pocket if they act soon.

According to the US Government, you are a first time home buyer if you have not purchased a home in the past three years. You must buy this home to live in yourself, as an owner occupant. In addition, once you purchase this home, the Government is offering, as part of the Stimulus Program, up to $8,000 as a Tax Credit. If, for example, you paid $3,000 in taxes, you will receive a check for $5,000. If you paid no taxes at all, you will receive $8,000.

Now is the time to buy, but the deadline is fast approaching. You must have your property closed by December 1, 2009. It is taking approximately 60 days from offer to closing. You have until (approximately) September 30 to make a decision on which property to purchase, and to get your offer accepted….

In addition to the $8,000 tax credit, another Stimulus plan is the 100% financing of a home loan, in which 80% of your home loan would be financed at a relatively low rate of interest (5% for example), and 20% of your home loan would be financed at a higher rate (9% for example). This 100% financing is available to people with credit scores of 720 or higher. In order to find out your credit score, you can go online to check it free.

Both of these Stimulus plans are available now, and the $8,000 tax credit won’t be around for that much longer. Act now! See a real estate agent today.
-Tiare Dutcher, RA