Per the American Recovery and Reinvestment Act, a first time home buyer is now eligible to receive a free $8,000 tax credit when buying a home!

Here is an outline of the details:

· Amount of Credit—$8,000

· Eligible Property— Any single family residence (including condos and townhouses) that will be used as a principal residence

· Income Limit—Some restrictions apply. Call us for details

· First Time Home Buyers Only—A first time homebuyer is defined as someone who has not owned a home in 3 years previous to purchase

· Repayment—The tax credit does not need to be repaid, provided the home is not sold within 3 years of purchase

· Effective Date—The credit applies to any home bought after January 1st 2009 and before December 1st 2009