1st Time Buyers Tax Credit between January 1, 2009- Dec 1,2009

In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.

But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible. Use the links below to find out more about the tax credit.

Federal Housing Tax Credit

1st Time Buyers Tax Credit between April 9, 2008-January 1, 2009

The Housing and Economic Recovery Act of 2008 authorizes a $7,500 tax credit for qualified first-time home buyers purchasing homes on or after April 9, 2008 and before January 1, 2009. The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

www.federalhousingtaxcredit.com

Federal Housing Tax Credit

NVAR's Feb Report

NVAR's Feb report is out. The number of contracts on homes in NoVA is up 19% from one year ago- houses are starting to move!
Check out their report
NVAR Feb Report

FHA Mortgage limits for NoVA

FHA loan limits top out at $729,750 for single family homes in our area.

Alexandria City
Arlington
Fairfax
Falls Church

US Department of Housing and Urban Development