If you are purchasing a home or trying to find ways to lower your current mortgage payment then you should know that there are programs out there for you.
Looking to make a purchase?
As interest rates remain near the lowest level in decades buyers with strong credit and stable jobs are able to take advantage of low interest rates. If you are a first time home buyer you are eligible for an $8,000 tax credit that does not need to be repaid.
"For purposes of the credit, you are considered to be a first-time home buyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase" http://www.irs.gov/newsroom/article/0,,id=204672,00.html
Interested in Refinancing?
On Thursday President Barack Obama urged families to take advantage of near-record low mortgage rates by refinancing their home loans. A new plan has been set in motion to provide $75 billion in incentives for the mortgage industry to modify loans to help borrowers avoid foreclosure. The president encouraged people to take advantage of a government Web site-http://www.makinghomeaffordable.gov - to see how they can get help.
Check back often for information on interest rates.
Sources-IRS.gov and Associated Press
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