Reps. Earl Blumenauer and Jimmy Panetta introduced the First-Time Homebuyer Act in the House in late April. The bill, which closely resembles what Biden proposed during his campaign, would create a refundable tax credit worth up to 10 percent of the purchase price, or $15,000, for the purchase of a home.
Down paymentsReal estate closing costsMortgage interest rate reductionsOther home purchase expenses
What are the requirements to qualify for a first-time home buyer loan?FHA loan: An FHA loan is a home loan insured by the Federal Housing Authority. ...VA loan: A VA loan is insured by the U.S. ...USDA loan: The USDA loan program is aimed at low-income borrowers, usually in rural areas. ...More items...
TopicsQualifying home Find out if your home qualifies.Persons with disabilities You do not have to be a first-time home buyer.Completing your tax return How to claim the home buyers' amount.
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