Biden’s $15,000 first time home buyer tax credit | As a 17-year loan officer, I often hear first time home buyers ask about available home buyer assistance programs, or lament the fact that they missed the homebuyer tax credit passed by the Bush Administration. Well, there may be good news for them! The Biden Administration has proposed a $15,000 first time home buyer tax credit that is not only significantly more than the previous one, but is also available in advance at the closing table so borrowers don’t need to wait to recoup their expense. I give all the details about who qualifies, how it might be used, and what we still need to know about it.
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With 17+ years of experience as a loan officer, Stephanie Weeks founder of The Weeks Team and has ranked among the top 1% loan officers in the nation several years running.
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New down payment assistance programs in the form of a Biden tax credit could potentially shake the housing market. The proposed $15,000 tax credit would be a game changer for first time home buyers around the country.