$8,000 First Time Home Buyer Tax Credit at a Glance

· A first time home buyer is defined as someone who has not owned a principal residence during the three-year period prior to the purchase.

· The tax credit does not have to repaid.

· The tax credit is equal to 10% of the home’s purchase price up to a maximum of $8000

· Home must be purchased on or after January 1, 2009 and before December 1, 2009

· Single taxpayers with annual incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit

· An income tax refund will be issued for any amount above taxes owed for the 2009 tax year.

Here are today’s rates at a glance…

1% origination	0% origination
30 YR Conforming 5.000	30 YR Conforming 5.25
15 YR Conforming 4.375	15 YR Conforming 4.75
30 YR Fixed Jumbo 6.25	30 YR Fixed Jumbo 6.5
FHA 30 YR Fixed 4.875	FHA 30 YR Fixed 5.125

All rates are determined by multiple factors including loan amounts, property value,

occupancy, escrow waiver, and credit scores. Please call for program guidelines.

Please contact me for more information about the First Time Homebuyer tax credit, mortgage rates, and for all your real estate needs.