» $15,000.00 Home Purchase Tax Credit Trimmed To $8,000

Well, with much wrangling the Congress rolled out the final revision of the home purchase tax credit contained in the economic stimulus act. The President is scheduled to sign the bill on Monday, February 16.

The Senate's version of the home buyer's tax credit was scaled down and revised to a much smaller version which is expected to have very little impact on the economy. The tax credit is now limited to first time home buyers and is $8,000 instead of $15,000. There are also income restrictions on the first time home buyer tax credit. One good point on this tax credit is that it eliminates the pay back which is required on the existing $7,500 tax credit.

For more information regarding the new $8,000 first time home buyer tax credit or the current $7,500 tax credit, contact Bill Burress, Nationwide Mortgage Expert.

Bill Burress, has over 27 years experience in the mortgage business . For information on getting approved for a mortgage refinance or any of your mortgage needs, You may contact Bill Burress, Nationwide Mortgage Expert at Toll Free 1-800-239-1416. or fill out the 30 Second Inquiry Form

The $8,000 first time home buyer tax credit is available for home buyers nationwide.
Now originating mortgages and modifying mortgage loans in the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington D.C., West Virginia, Wisconsin and Wyoming.