# New Homeowner Krew, what are you doing with your interest free loan? **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [August 21, 2008, 8:47am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617 "2008-08-21T08:47:27Z")\ **Posts on this page:** 20\ **Page:** 3
**Author:** ![Geoff](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/geoff/32/6104_2.png) [@Geoff](https://forums.speedlife.net/u/Geoff)\ **Post date:** [January 26, 2009, 9:22am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/41 "2009-01-26T09:22:44Z")
“But now, there’s a good chance that lawmakers will eliminate the tax credit’s repayment requirement.” Why would that not apply to the entire qualification window? ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [January 26, 2009, 9:25am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/42 "2009-01-26T09:25:30Z")
because the bill is supposed to spur new home sales, ie after 1/1/09. Buying a house last year theoretically does no good this year. If enough people bitch they’ll end up including the 08’ers i’m sure, but as of right now they gotta pay it back. ---
**Author:** ![ultradriver10000](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ultradriver10000/32/7397_2.png) [@ultradriver10000](https://forums.speedlife.net/u/ultradriver10000)\ **Post date:** [January 26, 2009, 9:26am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/43 "2009-01-26T09:26:23Z")
Maybe i’ll buy a 20K dollar house? 😛 ---
**Author:** ![Choda](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/choda/32/7347_2.png) [@Choda](https://forums.speedlife.net/u/Choda)\ **Post date:** [January 26, 2009, 9:35am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/44 "2009-01-26T09:35:18Z")
still great, im deff looking forward to this. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [January 26, 2009, 9:39am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/45 "2009-01-26T09:39:43Z")
> [@ultradriver10000](#): > > Maybe i’ll buy a 20K dollar house? 😛 it’s 10% of the purchase price up to $7500… so no. ---
**Author:** ![Quattro\_Krant](https://avatars.discourse-cdn.com/v4/letter/q/ac91a4/32.png) [@Quattro\_Krant](https://forums.speedlife.net/u/Quattro_Krant)\ **Post date:** [January 26, 2009, 9:50am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/46 "2009-01-26T09:50:32Z")
> [@theblue](#): > > the real intent is to talk people who don’t want to buy a house into doing so. If the $7500 is what talks people into buying a home, thats scary. $7500 is just the smallest tip of all the costs associated with buying a house. Shit, $7500 won’t even cover closing costs. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [January 26, 2009, 9:54am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/47 "2009-01-26T09:54:58Z")
$7500 + seller concessions will cover all of the costs of buying a home up to like $300k in value probably… plus people don’t like to pass up free money… housing sales just improved so it’s working. [http://news.bbc.co.uk/2/hi/business/7852011.stm](http://news.bbc.co.uk/2/hi/business/7852011.stm) ---
**Author:** ![Minglor](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/minglor/32/7373_2.png) [@Minglor](https://forums.speedlife.net/u/Minglor)\ **Post date:** [January 26, 2009, 10:34am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/48 "2009-01-26T10:34:12Z")
Awesome. ---
**Author:** ![LUKE\_L](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/luke_l/32/7462_2.png) [@LUKE\_L](https://forums.speedlife.net/u/LUKE_L)\ **Post date:** [January 26, 2009, 11:24am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/49 "2009-01-26T11:24:23Z")
I closed in 05/08 and had my taxes done over the weekend. The Credit is a dollar for dollar interest free loan as stated upto $7,500 or 10% of the purchase price (Whichever is cheaper). I think all of it will be going in to CDs and I will roll the max (5K)into my Roth IRA. ---
**Author:** ![Daddie](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/daddie/32/7621_2.png) [@Daddie](https://forums.speedlife.net/u/Daddie)\ **Post date:** [February 18, 2009, 11:08am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/50 "2009-02-18T11:08:20Z")
I think, this is doneski? 8k if you bought Jan 1st 2009 though… ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [February 18, 2009, 11:11am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/51 "2009-02-18T11:11:28Z")
the new deal for this year is not only $8k, but you don’t have to repay it at all… I want be:feck:, but I’m going to stay :wiggle: since anything is better than nothing. ---
**Author:** ![LAFENGAS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/lafengas/32/7573_2.png) [@LAFENGAS](https://forums.speedlife.net/u/LAFENGAS)\ **Post date:** [February 18, 2009, 11:15am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/52 "2009-02-18T11:15:08Z")
I will be taking advantage of this non-payback loan soon. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [February 18, 2009, 11:17am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/53 "2009-02-18T11:17:34Z")
as long as you haven’t gotten married yet and you have the cash do it 2x quickly. 😃 ---
**Author:** ![Viper966](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/viper966/32/7268_2.png) [@Viper966](https://forums.speedlife.net/u/Viper966)\ **Post date:** [February 18, 2009, 11:35am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/54 "2009-02-18T11:35:17Z")
> [@Daddie](#): > > I think, this is doneski? > > 8k if you bought Jan 1st 2009 though… yea… 8k GIft… i got my 7500 bux… but its only a loan… but @ 0% interest, ill take it! ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [February 18, 2009, 11:36am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/55 "2009-02-18T11:36:53Z")
I’m looking at duplexes in the 80k range now. Give me something that brings in 1200 a month and have the government pay most of my downpayment for me, and I’ll take the residuals every month 🙂 ---
**Author:** ![93dx\_hatch](https://avatars.discourse-cdn.com/v4/letter/9/90ced4/32.png) [@93dx\_hatch](https://forums.speedlife.net/u/93dx_hatch)\ **Post date:** [February 18, 2009, 11:45am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/56 "2009-02-18T11:45:51Z")
> [@Joe](#): > > I’m looking at duplexes in the 80k range now. Give me something that brings in 1200 a month and have the government pay most of my downpayment for me, and I’ll take the residuals every month 🙂 its for first time buyers only. Income limit is 75k single, 150k married ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [February 18, 2009, 11:47am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/57 "2009-02-18T11:47:38Z")
Joe I talked to the owner of 234 Tacoma and I think she will take 80-85 and the upper is already in a lease for $580. Have at it. I am trying to take advantage of this as well and I will be I just have to find the right place. Last weekend I flew home to try to find something and was not really too impressed. I will be back in the first week of April in hopes of better luck. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [February 18, 2009, 11:48am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/58 "2009-02-18T11:48:41Z")
if joe’s house is not in his name then he can probably swing it… but he will have to live there or claim to. ---
**Author:** ![LAFENGAS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/lafengas/32/7573_2.png) [@LAFENGAS](https://forums.speedlife.net/u/LAFENGAS)\ **Post date:** [February 18, 2009, 11:49am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/59 "2009-02-18T11:49:37Z")
> [@theblue](#): > > as long as you haven’t gotten married yet and you have the cash do it 2x quickly. 😃 Actually, luckily i’m married and she is a stay at home mother which means she contributes no income and keeps me within the salary requirements. ---
**Author:** ![tpgsr](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tpgsr/32/7374_2.png) [@tpgsr](https://forums.speedlife.net/u/tpgsr)\ **Post date:** [February 18, 2009, 11:49am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/60 "2009-02-18T11:49:59Z")
> [@Joe](#): > > I’m looking at duplexes in the 80k range now. Give me something that brings in 1200 a month and have the government pay most of my downpayment for me, and I’ll take the residuals every month 🙂 > [@93dx--hatch](#): > > its for first time buyers only. > > Income limit is 75k single, 150k married EXACTLY! “Sarah” will be buying a house just before we get married, and we will be filling as single for this year. In no way are we going to pass up the govt. giving us $8000 to throw into a duplex that more than pays for itself. [Previous page](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617.md?page=2) [Next page](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617.md?page=4)