“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?
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.
Maybe i’ll buy a 20K dollar house? 
still great, im deff looking forward to this.
it’s 10% of the purchase price up to $7500… so no.
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.
$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.
Awesome.
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.
I think, this is doneski?
8k if you bought Jan 1st 2009 though…
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.
I will be taking advantage of this non-payback loan soon.
as long as you haven’t gotten married yet and you have the cash do it 2x quickly. 
yea… 8k GIft…
i got my 7500 bux… but its only a loan… but @ 0% interest, ill take it!
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
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.
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.
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.
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.