First-Time Homebuyer Program + Low Interest Rates = Good Deal

$8,000 from Uncle Sam, just for buying a home!

Back in the Dark Ages there may have been a better time to buy your first home. Maybe around 1950. There were many new homebuyer programs at the state and local level, but none compares to the new first-time homebuyer tax credit.

If you have not owned a home in the past 3 years, you can purchase a home or condo and deduct $8,000 from the amount of tax you owe for either 2008* or 2009.

You have to purchase before December 1, 2009 to qualify.

If you file your 2008 Federal tax return and subsequently purchase a home, you can amend your tax return to get the refund.

This tax credit does not have to be paid back!!!

FHA mortgage interest rates have been below 5% for borrowers with good credit. Add to this astonishing rate the lowest home prices since before the run-up in 2004, and you have a recipe for home ownership that is truly remarkable.

If you have a job and have paid your bills on time, start looking for homes. You are blessed with good timing.

Find Homebuyer Tips at www.jscottcarpenter.com/buyers/buyers_tips.html
The IRS bulletin on tax credit: http://www.irs.gov/newsroom/article/0,,id=204672,00.html

J.Scott Carpenter
Carpenter Properties
Rocklin, CA
(916) 267-7653