Florida puts a CHERRY on the $8,000 First Time Home Buyer Tax Credit
New home buyers will not have to wait around for the $8,000 tax credit. Florida will give the new home owners the $8k upfront which they can then use towards the down payment. This is made possible thru the current administration’s Stimulus Package. The package allows first time home buyers to qualify for an $8k tax credit after the home is purchased. I believe it is only for those that have not owned a home in the last 3 years. In the most recent development, Florida will give the new buyer a short term loan of $8k now which payable when the IRS gives the homeowner the 8k federal tax credit. The state will obligate the new homeowner to repay the 8k in less than 2 years. Read more on it in the Orlando Sentinel.
Originally published in Blog on 7/15/2009