First Time Homebuyer Credit

[Kelly C]

okay so it hasnt passed yet. The NHBA is trying to get it to pass. Here is a website with alot of info on it fixhousingfirst.com

[Shannond4156]

I work for a big mortgage provider and get all the news on this topic, plus we are looking into buying so I pay close attention. Right now you do have to pay the money back. I believe the tax credit is good for those who buy through April or May. However, the government is looking into having this be a pure tax credit in the near future. If that happens we will finally get off the fence and buy, but as of today you do have to pay it back.

[Kat81]

I just sent that letter to my senators lol

[Kat81]

I so barely qualify for this... we bought our house April 27th. The cutoff is the beginning of april WHEW!

[Kat81]

Here is the info on the new credit in the stimulus package.

 

$8,000 First Home Buyer Tax Credit in 2009 Economic Stimulus Plan - Refundable or Not?

[Banana11]

OMG Kat thank you SO MUCH for posting this!!! I don't know how I missed this thread a few weeks ago?! Probably because we were gearing up to leave for our wedding cruise .

 

When Danielle mentioned the credit a few days ago it was the first DH & I had heard of it. I've been searching all day to try and figure out if we will qualify for the loan requiring repayment or credit with no repayment. Couldn't find anything at all regarding the details of what passed the Senate. The link you posted says the details on repayment for people buying their homes between April - December 2008 have yet to be determined. I'm so excited about this! It will truly help us a ton! Fingers crossed it's the no repayment !

[Kat81]

My fingers are crossed too! We bought our house April 24th! Although we won't qualify for the full amount we should still get around 3750. That will be really nice if we don't have to repay it. We could really use the extra money