Having a hard time getting loans these days? Hopefully, you fall into a category of below in which the new bill approved last week will help you.
President Bush signed a $300 billion housing bill into law last week. In addition to helping cash-strapped homeowners avoid foreclosure, the law aims to help first-time home buyers to jump start their search in a tough economy.
To boil it down to the basics: first-time home buyers get up to $7,500 tax credit. This basically means you get a 0% loan for 15 years if you buy a home between April 9, 2008 and July 1, 2009.
There are restrictions based on your income.
Talk to your local bank today to see if this can help you with your home purchase!
Goodluck and let us know if you need any assistance.
