What a great help this tax credit will be for buyers who are having difficulty affording their first home. With all the headlines about the so called credit crisis, it is nice to see that there are incentives being put in place for first time homebuyers.
The Housing Stimulus Bill is offering a $7500 tax credit that would be available for any qualified purchase between April 9, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan)
Combine this tax credit with the current down payment assistance programs available in Los Angeles, Orange and Ventura Counties to get 100% financing and upto a $7500 tax credit. Let's spread the word.