First Time Buyers - So Many Incentives Right Now!

If you are a First-Time Homebuyer in the State of Maine, now is your time to shine!

On top of the First Time Homebuyer Tax Credit that I think the whole world knows about already, the Maine State Housing Authority (MSHA) has sweetened the pot with a "Gift of Green".

The First Time Homebuyer Tax Credit features an up-to $8,000 tax credit for first time homebuyers who purchase a single family primary residence between January 1, 2009 and November 30, 2009.  Anyone who has not owned a home in the last three years qualifies as a first-time buyer under the tax credit rules.  There are some income guidelines but the credit does not have to be re-paid if the buyer stays in the home at least 3 years - - I'm writing this on June 23rd, so as of today, you ONLY HAVE 160 DAYS LEFT to find your house, get under contract and close the sale in order to be eligible for this FREE MONEY!  

So, $8000 isn't enough motivation for you?  Maine Housing presents a special, limited-time offer with their "Gift of Green."  This will get you up to $5,500 toward your first home - that's in addition to the the tax credit!  The Gift consists of a grant up to $5,000 (up to 4% of the mortgage amount) that can be used for down payment, closing costs and certain pre-paids.  You also get a coupon for up to $500 off a 2-part home energy audit.  This gift is not added to the loan amount and never has to be paid back.  There are some strings, rules and restrictions that you will want to read about on the MSHA website, or call them at 1-866-223-8881.

So, between just these two programs, First-Time Buyers may qualify for Total Incentives up to $13,500!  And if you are a real FREE MONEY hound, you can then take advantage of additional federal tax credits from investing in home energy-efficiency improvements to the tune of up to $1500.  Go ahead and add that up - it's $15,000 in credits available to you!

Oh, and I wouldn't be doing my job if I didn't point out that interest rates are still low and there are many homes for you to choose from right now.  The many homes to choose from - - -that's the part I can help you with!  Call me or email me today - - these great incentives will be gone before you know it.