I recently read “3 People the Homebuyer Tax Credit Helped” on CNNMoney.com about 3 real life people who took advantage of the homebuyer tax credit. It got me thinking about what a great opportunity this can be for first time buyers who are on the fence about purchasing a home.

The  program is part of the stimulus bill  created by Congress. It offers up to a $8000 tax credit to first time home buyers as an incentive to boost home sales.

I know from personal experience that when you’re purchasing a home for the first time, $8000 added to your budget can make a huge difference. In fact it could make the difference between deciding to purchase and feeling like you just can’t quite swing it financially.

The article sited 3 different people from different parts of the country who took advantage of the credit. In all 3 cases, the tax credit had a huge impact on their ability to purchase a home.

Rob Logan purchased his home in October 2009. “I wouldn’t have been able to afford my house without it, it was one of the main reasons I started looking”.

More good news! The original credit expired in November, but due to the popularity of the program has been extended to April 30, 2010. There is talk of a further extension as well.

1. Home prices have fallen making this an excellent time to buy. Purchasing real estate in a down market is an excellent investment in your future. Over the long haul home prices still appreciate more than the stock market.

2. Interest rates are currently at near record lows making purchasing a home NOW more affordable than ever! Lock in on an interest rate that fits your budget.

3. First time home buyer tax credit. If you are a first time home buyer (haven’t purchased a primary residence in the last 3 years) and meet income regulations you qualify for a $8000 federal tax credit! The full amount is refunded to you directly in your federal return. More info at: FederalHousingTaxCredit.com

4. Mortgage loans are available. If you have good credit and a down payment, lenders are eager to work with you.

5. Great selection. With so many homes on the market you can get the fabulous features you want at a price you can afford.

6. Spring has sprung! This is the best time of year to purchase a home. Get settled in time to enjoy the summer months and be ready for the new school year!