This is a YouTube video titled "💫 Update on First Time Homebuyer Credit 💫" containing a discussion between two speakers about the new first-time homebuyer tax credit, its eligibility criteria, and potential impacts on the housing market. The content was created on July 19, 2021, and focuses on housing market updates and policy changes.
Things in the housing market that you may not know about. The new first time homebuyer tax credit.
Is picking up some steam. It's actually being introduced to Congress this week, so something I'll be keeping an.
Eye on for you.
This is a $15,000.
Down payment credit or up to 10% of the down payment on a new home. The person cannot have had a home in the last three years. That kind of refreshes you. Now your first time home buyer. Again, income can't be over 160% of the area average.
The house price can't.
Be over 110% of the area average.
However, the only downside is this could.
Create even more of.
A supply demand.
Imbalance with so many new people in the housing market.
