$8000 Gift For New Home Buyers
$8000 Gift For New Home Buyers 
How the Economic Recovery Act of 2009 affects new home buyers
Home buyers will receive a gift of up to $8,000 thanks to the economic stimulus plan that was approved on Tuesday, February 17, 2009. The money does not need to be repaid by those who stay in their home for at least three years. Buyers may take advantage of this when they purchase and close on a home between January 1, 2009 and November 30, 2009.
This is a "tax credit" which means you can receive up to $8,000 extra with your tax refund check. You can still receive the money this year even if you have already filed your taxes.
- Receive 10% of the home purchase price up to $8,000
- Does not have to be repaid if the home is owned for at least three years
- Must purchase and close between January 1, 2009 and November 30, 2009
- Available to First Time Home Buyers – anyone who has not owned a home during the past three years
- Individuals who earn up to $75,000 or couples who earn up to $150,000 can qualify
