President Obama and the government have agreed to give home owners a $8,000 tax credit to buy a home. Veteran can take full advantage of this.
The tax credit is only available if you have not owned in the last 3 years.
The tax credit is only available if you have not owned a home for at least 3 years The amount of the credit is the lesser of $8,000 or 10% of the purchase price
If you owe less than $8,000 in taxes, the difference gets refunded to you The full amount of the credit is available to singles who make $75,000 or less, or couples who make $150,000 or less(tax credit phases out above those caps)
This tax credit is only good until December 2009
You could use the refund to buy nice new furniture for your new home.
Additionally, the stimulus plan is raising the FHA and Fannie Mae and Freddi Mac loan limits back up to $729,000 in many parts of California. This means better interest rates and lower down payments for buyers in those higher price categories.
Give me a call if you would like to discuss using a zero down VA Loan to purchase a home. Rob Chomentowski
Sr. Loan Officer and FHA and VA Loan Specialist
858-922-7899 (direct)
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