Stimulus Benefit To Home Buyers and Owners2/18/2009
1. Expansion of Home Improvement Tax Credit - You will recieve a tax refund of 30% of an energy efficient home improvement up to $1,500. So if you were thinking of replacing heat pumps, doors or windows, now would be a good time.
2. First Time Home Buyer Tax Credit - $8,000 for homes purchased this year, no pay back if you stay in the home for at least 3 years. There are income limitations.
More info: www.federalhousinetaxcredit.com
3. Higher Reverse Mortgage Loan Limits - FHA insured reverse mortgages increased to $625,500 and available throughout the country. This, combined with the availability of reverse mortgages on home purchases allows senior citizens to buy a new home and live mortgage payment free wihout having to wait for their old home to sell.
Link to a more in depth article about the Stimulus Benefit:
Ready to help you,
Mary Lou Vonderau
Mary Lou's Team