There are some wonderful programs that are currently available to first time homebuyers through President Obama’s Homeowner Affordability and Stability Plan, the State of California, and the California Association of Realtors®. If you have not owned a home in the last three years, you may qualify.

§         For 2009 first time homebuyers can benefit from an increased tax credit of $8,000 that does not have to be paid back! This program expires December 1, 2009 so hurry and take advantage of it!

• The State of California is offering a $10,000 credit to first time homebuyers of newly constructed homes.

• There is a FREE mortgage protection program that first time homebuyers may qualify for that will cover part or all of the borrower’s mortgage payment in the event that the homeowner(s) lose his/her job(s).

Between low interest rates, low home prices, increased inventory, and these terrific programs, first time homebuyers are in a great position to buy. But these programs won’t be around forever.

Call me for more information on these programs and how you can qualify. Some restrictions may apply.