UpstateNYUPSer(Ret)
Well-Known Member
There is a portion of the stimulus plan that will give buyers of a new home in 2008 a 15K tax deduction on there taxes filed in 2009. Of course this would hinge on whether the language remains, is changed, or if the stimulus plan is passed. Stay tuned.
Dino, if the language remains unchanged, it would be up to $15K. I believe it will be 10% of the value up to $150K.
My realtor told me that you should look to spend no more than 2 times your annual on a house.
By all means refinance if you can--we may never see rates likes these again for quite some time.