Federal Aid
If you’ve been following our blogposts, then you probably know by now that if you’re a first-time homebuyer, you are qualified for $8,000 in government tax credit, assuming that you meet all the prerequisites. However, recently there has been a debate in Congress about whether or not to increase that tax credit amount to $15,000. Because there’s a large amount of houses that are still on the market, the government wants to firstly provide an incentive for first-time homebuyers to purchase a home and secondly stimulate the economy by first helping banks get more loans out. If the bill is passed through Congress, then you can basically get a 100,000 dollar home for 15% off, which is more than just a great deal!
