Report: $8,000 Homebuyer Credit Finds Its Way Into Stimulus
As we mentioned earlier, it’s been a hell of a time tracking down details on a stimulus “deal” that lacked for details. But a preliminary summary coming from the office of House Speaker Nancy Pelosi (D-Cal.) this morning indicates that the $789 billion package includes a tax-credit for first-time homebuyers.
No numbers accompany the summary, but The Associated Press reported earlier today that an $8,000 tax-credit will be available for first-time homebuyers who purchase homes through July 31. That’s a drop from the $15,000 credit passed by the Senate, which would have benefited all homebuyers (not just first-timers), but provides a slight increase over the $7,500 credit passed last month by the House.
No word yet whether there are income restrictions on the final credit.