New Jersey Mortgage and Home Loan Information

Use Your Tax Rebate to Buy a Home

New Jersey first time home buyers and home buyers all over listen up! Not only is the government offering incentives for Americans to buy and sell homes, but this Spring you can offer yourself an incentive: Buy a home with your tax rebate money! Some people will go on vacation. And some will buy a new LED flat panel TV.

But the shrewd will utilize this money for something that may just change their life, such as to buy their first home. Here's a quick review of the many first time home buyer "incentives" that are available RIGHT NOW.

• The (up to) $8,000 federal tax credit for buying a home (Must be under contract by April 30th, and settle by end of June)
• Local first time home buyer incentives such as; down payment assistance, reduced down payment requirements, and more. These can be local as in "state" programs, or local as in "county" programs, or even city specific incentive programs. (Contact your local expert for more information).
• Homes are priced lower right now than they have been for years. Most markets are buyers markets.
• Interest rates are still very low. However if history repeats itself, and the government keeps their current stance, mortgage interest rates will not stay this low much longer.

Is Now the Best Time to Buy?

I won't answer that question for you, but now is certainly a great time to buy, and with the option to use your tax rebate to buy a home on top of everything else ...

"We won't know the bottom of the market until it is in the rearview mirror!"