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Amy Alexander's Blog

By Amy Alexander | Agent in De Pere, WI
  • Stimulus Benefits

    Posted Under: Home Buying in Green Bay  |  March 13, 2009 8:34 AM  |  1,396 views  |  No comments
    Now that itʼs passed how can you benefit?
     
    1)   The National Association of Realtors put the attached slide show together to summarize the First Time Homebuyer Tax Credit.  A First Time Homebuyer in this case is defined as someone who hasnʼt owned a home in the past three years.  It can put up to $8,000 cash in your pocket that doesnʼt have to be paid off unless you sell the home within three years.  If you fall into this category and have been contemplating a purchase now is the time!   Itʼs only available for buyers that close on a house by December 1, 2009.
     
    2)   If you are selling or thinking about it be sure you know whether youʼre home qualifies for a 100% financed USDA Rural Housing Loan.  Some of the Stimulus is being given to this program to add enough funding for an additional 192,000 mortgage loans for rural area properties and if your home qualifies it may entice a few more buyers to consider it.
     
    3)   Buyers who are worried about coming up with a down payment could focus their home search properties in these rural areas.  There are income and credit requirements for obtaining these loans, but itʼs basically the only 100% financing program left and if youʼre a first time homebuyer you still qualify for the tax credit.
     
    Use the link below to read more about the USDA Rural Housing program:
     
    http://www.rurdev.usda.gov/rhs/sfh/indiv_sfh.htm#Direct%20Loan%20Program%20(Section  
     
    Use this link to read more about this and other Stimulus benefits:
     
    National Association of Realtors Website

    http://www.realtor.org

    Are you able to take advantage and help balance this market?
 
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