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It seems hard to imagine but many buyers and sellers are not aware of the   $8000 tax credit provided by the Federal Government. Some refer to this as a first time home buyer program. That is not totally true.

If you or your spouse have not owned a home in the last 3 years you qualify as a first time home buyer. There are some limits on income but most buyers easily qualify. If your income is less than $75,000 as a single or $150,000 as a couple you will receive the full $8000. If your income is higher it is prorated.

If you own the home for 3 years you do not pay it back.

This is a check or refund on your taxes. You must purchase a home before December 1, 2009 to qualify.

Please share this with your friends.

Rob