If you have not owned a home or condo in the past 3 years - or have never owned a home - this is a particularly good time to buy. Area lenders have many good loan packages available - such as a USDA first-time homebuyers loan package - that not only offers good fixed rate financing, but oftentimes allows 100% financing. And now, thanks to a special tax incentive bill that has become effective, you could receive a $7500 tax credit if you buy a home between April 8, 2008 to July 1, 2009.
It's important to note that this is a tax credit, and not simply a deduction. How great is that?!
If you have a reasonably good credit score, a steady employment history (or other reliable income sources), and can otherwise quality, you can take full advantage of a down market. Call or email me and I'll give you a list of local lenders who can help you determine whether or not you will qualify.
(Article originally posted at my community and real estate blog: $7500 tax credit for first-time homebuyers.)