One of the biggest wins for first-time home buyers in last week's economic stimulus bill is a tax credit up to $8,000 for qualified purchases of a primary residence. It is a true tax credit rather than an interest-free loan.
This has changed from last year’s original $7,500 home buyer tax credit, that had to be repaid (interest-free).
So if you are thinking of purchasing a home this year (all you first time home buyers).........this is the year to do it.
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