How to get 15k when buying your home!

President Joe Biden called for a first-time homebuyer $15,000 tax credit, and Congress has answered his call.
United States Rep. Earl Blumenauer (D-OR) and Rep. Jimmy Panetta (D-CA) today introduced the new legislation, dubbed the “First-Time Homebuyer Act.” The bill would provide a tax credit for first-time homebuyers of up to 10% of the purchase price, or $15,000.
In order to be eligible for the full credit, potential buyers must not have owned or purchased a home within the past three years.
The program would be targeted to low- and middle-income earners. Participants must also make no more than 160% of the area median income, and the home’s purchase price must be no more than 110% of the area median purchase price. Borrowers could claim the credit for primary residences purchased after Dec. 31, 2020. #firsttimehomebuyers #homepurchase2021 #homebuying #15khomwbuyertaxcredit #mortgage #homeownership #realestate