| The Government of California introduced the | | | | amount can be applied towards your mortgage |
| American Dream Down Payment Grant in 2009, in | | | | payment. As a result, you receive a large tax |
| order for the US economy to get a boost. A | | | | deduction and the preliminary mortgage payment |
| special Homebuyer Tax Credit was facilitated for | | | | interest is also tax deductible. This makes sense if |
| first time home buyers. One of the main | | | | you want to keep your annual expenditure low. |
| advantages of this new grant is that there will no | | | | The government of California is calling this money |
| longer be a need for loan sharks giving loans to | | | | as free money, because there are no monthly |
| people who need it most. Home buyers can now | | | | payments to be made so it is virtually free as |
| turn to credible banks and loan companies instead | | | | these funds remain idle as a second mortgage |
| of realtors. | | | | until the day they are paid back, unless you reside |
| This is a wonderful opportunity for first time | | | | in the same property for a period of thirty years. |
| home buyers to take up financial assistance of | | | | Lastly, owning a house is high on the list of |
| the banks, as once they are in possession of their | | | | investments as property prices continue to rise. |
| property, whatever equity is in it can be used as | | | | Now is the best time to take advantage of low |
| a source of down payment for the next | | | | interest rates and the home buyer tax credit is |
| property. | | | | one of the best schemes that have been |
| It is important to mention the vast amount of | | | | introduced in California. Your dream of owning |
| tax savings through the mortgage interest. If you | | | | your own home is now a closer dream than ever |
| are renting a house for a certain amount, that | | | | before. |