Buying a home this year? Tax Credits coming! maybe

So the word on the street is that the US Senate has added a $15000 home buyer tax credit to the latest Stimulus package being tossed around. That could come in useful with our upcoming move to Ft. Collins. I’ll have to keep an eye on this as we start the home buying process.

“The U.S. Senate on Wednesday voted unanimously to approve a home buyer tax credit of $15,000 or up to 10 percent of the purchase price in its version of the stimulus bill. This proposed credit would be available to all home buyers and would not have to be repaid as long as a buyer lives in the house for at least two years. The amendment to the Senate’s economic stimulus package, co-sponsored by Sen. Johnny Isakson (R-Ga.) and Sen. Joe Lieberman (I-Conn.), offers the credit on purchases from one year of the date of enactment and could be applied to the home buyer’s 2008 taxes.” -BuilderOnline.com

Hopefully something like this passes, or an even better option, in the next few months!