Being up to speed on the details of the $8,000 & $6,500 tax credits will help you to determine if you qualify for this part of the stimulus package signed by President Obama.  If you need clarification on how this is applied, just contact your lender/CPA to discuss this incentive for First-Time Homebuyers and move-up buyers.  If you are not sure who to contact, just call me and I will be happy to recommend someone.  The definition of the First-Time Home Buyer is not necessarily one that has never bought a home, but one that has not owned a home within a specified period of time.  There are also guidelines for move-up buyers as well.  With interest rates at such a low and the huge amount of inventory to choose from, now is really the time to buy.  Make the decision now and take advantage of the low rates, great selection of homes, and the tax credits.

You can find updated information concerning the Tax Credit Extension at our NAHB web site.