First Time Home Buyer Tax Credit
President Bush singed into law a Homebuyer Tax Credit — a $7500 tax credit that would be would be available for any qualified purchase between April 9, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan). The tax credit is design to "push" fence sitters into the market reducing inventory.
Attached to this article is a list of frequently asked questions.