Chosad will be conducting a seminar for first time home buyers on April 21, 2010 at 6pm at the Chosad offices in Marlton, NJ. This is your chance to gain in depth knowledge of what to expect when buying your first home. Craig Cook, Manager of Sales at Chosad & Financial will give a presentation that covers all aspects of buying a home and securing financing when purchasing a first home. The presentation will also highlight special assistance programs and tax breaks that are only available to first time home buyers. A question and answer session will follow the presentation. Anyone interested in attending should register at http://www.imortgageserve.com/ftbseminar.asp or call 604-916-2321 for more information.

On Feb 17, 2009 President Obama signed the much anticipated Economic Stimulus Package dubbed the American Recovery and Reinvestment Act into law. This Stimulus Package has a very substantial tax credit available for first time home buyers. Here the details on the credit:

• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000
• Available to First Time Home Buyers. A First Time Buyer is defined as someone who has not owned a principal residence in the previous three years.
• Any type of home that is a principal residence qualifies. This includes single-family detached homes, attached homes like townhouses and condominiums, and mobile homes.
• Applies to purchases made between January 1, 2009 and before December 1, 2009.
• The full tax credit is available for Single taxpayers with a modified adjustable gross income up to $75,000 and $150,000 for married taxpayers that file joint returns. A partial tax credit is available for taxpayers with greater earnings.

Now is a very advantageous time to buy a home. Home prices have steadily declined in value in most areas of the country since autumn of 2007. This has resulted in a slew of affordably priced homes available for sale. The $8000 tax credit included in the Economic Stimulus Package gives people another great reason to buy a home this year. Contact Chosad and we can get you pre-approved so you can begin shopping for a new home, or if you are already in need of financing we can help you with that. Give us a call at 604-916-2321.