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First-time Home Buyer Tax Credit Enacted as Part of Housing Stimulus Package

   After months of intensive lobbying by the entire NAHB federation and the tireless dedication of the NAHB staff in Washington, 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.

   Resources to help consumers understand the credit are:

  • A new consumer Web site, that includes details and a set of comprehensive questions and answers about how the credit works and how consumers can take advantage of it.
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