Governor Crist Signs Bill Allowing $8,000 Tax Credit to Be Used As Downpayment
Though details of the program are still being worked out, Governor Charlie Crist signed a bill today allowing the $8,000 First-Time Homebuyer Tax Credit to be used as a downpayment on a home. Beginning July 1, 2009 a first-time homebuyer will be able to apply for downpayment assistance to be repaid when they get their tax refund.
By the way a first-time homebuyer is defined as someone who has not owned a primary residence for the past three years. It is also important to note that you must close on the home before December 1, 2009 unless the program is renewed. Now might be the perfect time for first-time buyers to start looking for a home.
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