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First time home buyer credit increased

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First time home buyers are now being incented even more than before to realize their American dream of home ownership ! Not only are sellers willing to compromise on their price as well as pay closing costs in order to get their home sold, the federal government is also incenting these buyers...The federal government is giving $8,000 in the form of a tax credit to first time home buyers. This revised tax credit previously was capped at $7,500 and a portion needed to be paid back.  Not so now. As long as the home is purchased between January 1, 2009 and December 1, 2009, the 1st time home buyer will receive the $8,000 tax credit and not have repay any of it.  This means... Happy Home buying!  Please see the chart below for all the details of the first time home buyer credit...

 

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