First Time Home Buyers in Foster City Are Getting an $8000 Tax Credit

Have you been considering making a jump into the real estate game to buy a home for the first time?  This is the year to do it and to thank President Obama and the United States Congress for helping you do it, too.  The Stimulus Bill passed this last week has given first time home buyers a nice gift.  A gift of $8000 as a tax credit.  But this gift has strings, thanks to Uncle Sam. You must remain in your home for two years or you’ll have to pay the $8000 tax credit back as earned income.

If you are thinking about getting off the fence this year, this has to help nudge you!  There are great buys in condos, townhouses and single family homes right in the San Mateo area right now.  Loans are at amazing rates and thanks to FHA financing you can buy a home with as little as 3 1/2% down.  Your credit score can even be in the lower 600’s for this, too. But, you must have good credit, low debt ratios, and a secure job.  No more checking if you’re breathing and getting a loan, but if you are a responsible citizen 2009 could be the year you gain home ownership.

We are here to help you with the entire process of buying a home.  It’s not scary, really.  It’s something most of us dream of and until recently was really hard to do with such crazy prices for our real estate but today, we have seen a correction of about 5% in many parts of the Peninsula.  Some areas in San Mateo County have gone down as much as 50%.  What’s stopping you?  This is free money, folks!

Home ownership provides tax savings and the year you buy offers even more than the usual interest and property taxes.  You can write off your points and closing costs.  Now with this credit, you’ll have $8000 more to write off.   Call us at 650-696-2820 and we will walk you through the whole process.  We have wonderful lenders to pre-approve you for a loan.  Call.