| The 2009 Stimulus Package introduced by President | | | | or equal to $ 75,000. |
| Barack Obama not only saves the house owners. It | | | | . For couples income has to be less than $ 150,000. |
| also has a lot to offer to the ones planning to buy their | | | | Here are some benefits that this first time home buyer |
| dream house as the US Federal Government provides | | | | tax credit offers you: |
| first time home buyer tax credit to these people. You | | | | . Unlike the tax credit of the year 2008, the person dos |
| must understand what exactly the first time home | | | | not need to pay it back. |
| buyer refers to. According to the US Government, it | | | | . The house must be bought between January 1, 2009 |
| means the one who does not own any principle home | | | | & December 1, 2009. These dates should not be |
| ownership for last three years or more. | | | | considered as the dates of moving in as these are the |
| Here are some eligibility conditions declared by the | | | | dates of purchasing. Here it can go up to $ 8,000. |
| Federal Government to avail the home buyer tax | | | | . People who have bought their first home and it is their |
| credit: | | | | principal residence on or after April 1, 2008 & |
| . Firstly you must be a citizen of US. | | | | before January 1, 2009, now qualify for up to $ 7,500 |
| . You must be above 18 years of age. | | | | of tax credit. |
| . The house you are looking for must be in US. | | | | . People can directly contact the HUD (US Federal |
| . The house must be for your principle use only. | | | | Housing & Urban Development Department) |
| . The house in consideration must not be a gift or an | | | | & the FHA (Federal Housing Administration) |
| inherited property. Otherwise you would be deprived | | | | through their official website in order to avail the first |
| of the accessibility to the tax credit. | | | | time home buyer tax credit. |
| . The annual income of a single person must be below | | | | |