The Home Stimulus Package - Why is it So Attractive!

Due to the manner in which our present economy is shrinking, President Obama is actively offering a helping hand, hoping to turn the tides around. In fact, he has inaugurated a number of fresh policies planned to fuel different aspects of the present economy and to get things geared up once again. The home stimulus package that can be availed by first-time home buyers is the ideal solution for financial difficulties faced by many buyers today. This is simply the great news for a common man.
The first time home buyer stimulus package is targeted at revitalizing the sloping housing market as it helps the first time house buyers; this is also applicable to buyers who have not purchased a home in the past three years.
The primary reason why the home stimulus package is so attention-grabbing is that it unswervingly deals with the crucial concerns which majority of the home buyers undergo while purchasing a new house. For instance, the very first concern of many buyers is how they will manage the down payment. It is essential that you have substantial sum of money banked so as to pay 10% down payment. Thanks to Obama's stimulus package where the federal government will assist the first time home buyers by providing a percentage of the down payment. In simple words, buyers need not worry as they do not have to manage the entire amount of down payment by themselves. Secondly, the federal government has also cut down the interest rates which are associated with monthly mortgage repayments. Apart from these, if you are qualified as first time home buyer then you can submit an application for refundable tax credit of 10% of the house price (this can go up to 8,000 USD dollars).
All in all, with an abundance of advantages associated with the home stimulus package, many individuals are getting excited to have this package as their affordable home plan.

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