Denver Real Estate

2009 Tax Stimulus Plan Makes NOW A Great Time To Purchase Your First Home

2009 seems to be the BEST time for First Time Home Buyers to purchase a home. Not only are interest rates at an all time low (below 5% most days) – If a buyer has not owned a home in the past three years – and purchases a home January 1, 2009 through November 30th, 2009 – they will qualify for an $8,000 stimulus.
The $8,000 can be claimed on the 2008 or 2009 tax returns and if tax returns have already been submitted – the buyer can amend the former return to receive the $8,000. This package is even more attractive than last years – 2008 stimulus which offered $7500 which needed to be paid back through future tax returns. This $8,000 does not need to be paid back if the purchaser stays in their home more than 36 months! In most cases – first time home buyers are actually refunded their entire down payment AND have extra money to upgrade and furnish their first home!  For more information on this plan – go to http://www.federalhousingtaxcredit.com/faq.php