On November 6, 2009, you and your fellow taxpayers agreed to put up an additional $11 billion in refundable tax credits to further stimulate the housing market.1 This could be the right time to buy a home.

Nothing is certain, but times change and create opportunities. Today’s first-time home buyer has some significant advantages:

Tax credit of up to $8,000

Fixed interest rates in the very favorable 5 percent range

Favorable home prices (some say prices are at the bottom of the market)

In this article, we are going to

explain the improvements to the existing first-time home buyers’ tax credit;

explain the new move-up home buyers’ tax credit of up to $6,500; and

equip you with personal use of a financial tool that you can use to project the financial benefits or detriments of home ownership.

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