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Down Payment Assistance for First Time Home Buyers!
May 12th, 2009 | 
Author: Hopefully the announcement today from the Secretary of Housing and Urban Develpment will help many first time home buyers purchase their first home. Having to come up with the down payment has been one of the biggest obstacles in the past. I have posted several times various ways to get the down payment together, but it has still been out of the reach of some people. Now, that could change. The First Time Home Buyer Tax Credit is going to be available for the down payment on FHA loans in the near future, according the the Secretary Shaun Donovan. Read More
Posted in $8000 tax credit, Eugene/Springfield, FHA 203b, FHA Mortgage Loans, First Time Home Buyer, Government Loans, Mortgage Loans | 
Tags: $8000 tax credit, 5% FHA interest rate, down payment assistance, Eugene/Springfield Oregon, fha 203b mortgage loan, First Time Home Buyer, Lane County, purchase | 
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$7500 Tax Credit may be getting an overhaul
I guess I can’t talk about the first time home buyer $7,500 tax credit too many times. People are very interested in this program. However, there are some major changes in talks that are included in both the House and Senate version of the Stimulus Bill. First of all, let me stress that there currently are limitations and qualification for this program. The most stringent is that it is available for homes purchased between April 9 of last year (2008) and July 1 of this year (2009). If you miss that window, you miss the tax credit. There is talk extending this window as part of the Stimulus Bill, but nothing has happened yet. There is also talk of expanding the credit to $15,000.
Next, the credit is currently only available to single taxpayers with an Adjusted Gross Income (AGI) of $75,000 or less or married taxpayers with a AGI or $150,000 or less to get the full credit. Lesser credits are available for those making more than the limits listed here. This also might change. Read More
