First-time Home Buyer Tax Credit

After months of intensive lobbying by the entire NAHB federation, the president today signed the housing stimulus package into law. This milestone legislation will help provide an enormous boost to the housing industry in the form of a tax credit for first-time home buyers, as well as much-needed measures that will improve mortgage liquidity, foster refinancing of troubled loans and expand the supply of affordable rental housing.
The temporary first-time home buyer tax credit will help stimulate home buying, reduce excess supply in housing markets and shore up home prices, so it is critical to get the word out to our members and consumers right away.
NAHB is immediately launching resources to help you and your members understand and promote consumer awareness of the credit, including: A new consumer Web site, www.federalhousingtaxcredit.com that includes details and a set of comprehensive questions and answers about how the credit works and how consumers can take advantage of it.