Norton Working to Bring Back First-Time Homebuyer Tax Credit
Buying your first house in D.C. can be a daunting and expensive undertaking. In the past, there was a $5,000 first-time homebuyer tax credit that made the purchase worth it, but it expired in December 2011. Now D.C. Del. Eleanor Holmes Norton is working to reinstate it, reported UrbanTurf yesterday:
However, first-timers can still hold out hope. Congresswoman Eleanor Holmes Norton is working towards getting the credit re-instated, her press secretary Scott McCrary told UrbanTurf. While there is no timeline in place, the Congresswoman’s intention should be hopeful to future buyers.
New tax credit created for first-time home-buyers
The Iowa Finance Authority is offering a new tax credit for new homeowners who fall under limits on annual income and the purchase price of their home. Iowa Finance Authority director Dave Jamison says it’s a credit linked to the mortgage interest new homeowners are paying.
“Yet another way that Iowans who meet our program guidelines can experience the many benefits of home ownership,” Jamison says.
Jamison’s agency was created in 1977 to help provide down-payment assistance to first-time homebuyers. With today’s incredibly low-interest rates, however, there’s been less demand for assistance. Jamison used untapped Iowa Finance Authority funds to create these “Mortgage Credit Certificates.”
First Time Home Buyer Directory Features a Wealth of Programs and Incentives
Boston, MA — (SBWIRE) — 01/21/2013 — First time home buyer programs remain available in most states, despite the problems caused by the subprime mortgage crisis, housing price decline, record number of foreclosures, and fiscal cliff belt-tightening of late. Jennifer Cribsly, a successful real estate investor and creator of the site first time home buyer, is a first time home buying expert who discusses how individuals, couples and families can tap into thousands of dollars of assistance available through various grants, down payment programs, and other state and local first time home buyer incentives.
Her website features a state directory of all the programs available in each state, right down to the local level. Besides statewide programs, many cities and counties have additional programs above and beyond those offered by state agencies. The directory is very user friendly, easy to navigate, and registration is not required.
Programs and grants available to prospective home owners are arranged by state and include full contact details, program descriptions, dollar amount of assistance available to each buyer, and hyperlinks to application pages. Everything that the first time home buyer needs in order to tap into both public and private funding sources is provided in a comprehensive manner.
First time home buyers have brighter days to look forward to as more and more states, counties and cities allocate funds for first time buyer incentives. Armed with public assistance for down payments and closing costs, first time buyers remains the most active segment of the housing market.