It's the best time ever for first time home buyers to buy a home. While the real estate market has experienced turmoil, the programs that have always been there to help first-time-home-buyers are still in place. (Bankrate.com) Combine the existing programs with low home prices and low interest rates and you have a formula for a successful first home purchase!
Federal Aid
There are also federal aid incentives in place to encourage first time buyers to purchase homes. "As part of the economic stimulus package, a tax credit worth 10 percent of the purchase price up to $8,000 is available to first-time homebuyers as long as they sign on the dotted line this year. Unlike previous tax credits for first-time buyers, this one does not require repayment."
Full Story Bankrate
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