With President Obama signing the stimulus package , there is a brand new version of the tax credit for home buyers. You can of course get this credit when using your VA eligibility to buy a home. Here are some highlights:
2009 is a great year to buy, loan rates are very low, house prices are very reasonable and you get a tax credit for $8,000 if you buy a house.
If you owe no taxes, you get the full $8,000. Say you owe $2,000 in taxes, you will get a $6,000 tax refund check for buying a house in 2009.
Say you owe $3,000 in back taxes, you will get a $5,000 from the IRS. Not a bad reward for buying a house.
This tax credit is only good until December 2009
You can use your refund to do what ever you want with. A great vacation, a new car what ever.
The stimulus plan allows for an increase in the Fannie Mae and FHA loan limits for CA, the limit is now $729,000 in many parts of CA.
Call Rob 858-922-7899 (direct)
Sr. Loan Officer and VA and FHA Loan Expert
858-922-7899 (direct)
