Forget the V8 Give me the $8,000

The recent stimilus package passed by Congress give first time buyers an $8,000 credit on their home puchase. They are even allowing these buyers to use the money for their down payment. While it's not as good as the $15,000 we all wanted for all buyers, this is a step in the right direction.

This new tax credit that runs through the calendar year 2009. This credit applies to any first time buyers who purchase a home during this period. The $8,000 is a significant step in helping thouse first time buyers with their down payment. Many Americans have found it difficult to save minimum of 3.5% required by FHA.

For further details, check out the website: http://www.federalhousingtaxcredit.com/2009/faq.php