What a week! After much back and forth between the House and the Senate, the $790 billion stimulus package has passed. One significant change is that the first time homeowner buyer tax credit has increased to $8000 and no longer requires repayment as long as the buyer holds on to the property for at least 3 years. They also extended the effective date of the credit to June 30^th. This is an excellent incentive for first time homebuyers. That in combination with incredibly low rates and the best housing selection in years make this an amazing time to be a first time homebuyer!