Many of you have probably heard something about the tax credits for first time home buyers as part of The American Recovery and Reinvestment Act of 2009. This site does an excellent job explaining the details of this and who is eligible.
One point of clarification before you read on: while this is indeed a great incentive, it is not a check you get once you close on the house. I’ve seen and heard ads from some agents enticing potential clients with some borderline misleading tactics regarding this.
This is something worth looking into if you’re on the fence about buying, and definitely something you need to look into if you did in fact buy your first home in 2009. Don’t let the negative news coverage discourage your efforts to own a home. I really do believe it is still the Golden Age for First Time Buyers!
More information: federalhousingtaxcredit.com