| The new stimulus package is estimated to be worth | | | | cannot be more than $150,000. |
| between 800 and 900 billion dollars and has been split | | | | Another part of the program is that the government is |
| between uncountable sectors and programs. One of | | | | going to help pay the down payment of the house |
| the programs that has been included is one that was | | | | which would normally be about 10% of the cost of the |
| actually in existence in 2008, but has now been | | | | home. The amount that the government contributes will |
| expanded and improved. This program is for first time | | | | depend on the price. There will also be a reduction in |
| home buyers or those who haven't owned a home in | | | | interest on the mortgage payments. This would be the |
| three years. | | | | third point. |
| There are three main parts to this program. The first | | | | All of these together will save the first time home |
| one includes a major tax credit. You can file for a tax | | | | owner a bundle of money and will be able to enjoy |
| credit for 10% of the gross value of the home for up | | | | their home with less stress of keeping one. If enough |
| to $8000. This is also connected to your income, | | | | people take part in the program then the housing |
| however. If you are buying the home by yourself, your | | | | market will start lifting. The government urges you to |
| income cannot exceed $75,000 and if you are | | | | find that desired home and apply for this program. |
| purchasing it with someone else, the two incomes | | | | |