• NEW: Extended and Expanded Homebuyers Tax Credit
• NAHB Letter Detailing Tax Credit Legislation
• Mortgage Credit Certificate
• Energy Tax Credit

Housing Stimulus and Tax Credit Information

First-Time Home Buyers Tax Credit: Extension and Expansion

NAHB has developed an essential resource for helping consumers understand the home buyer tax credit and their eligibility to claim it. In doing so, they have also created a one-stop shop for answers to your clients' questions and concerns. Moreover, because the site is recognized as a leading source of information on the tax credit, many media outlets are citing it in their own reports, which should further help to drive home sales in local markets. Click here to visit!

Housing Services Mortgage Credit Certificate: A homebuyer assistance tool for first-time homebuyers in Portland.

HBA recently became aware of another tax credit program through the City of Portland, called the Mortgage Credit Certificate Program. For more information, click here!

Energy Tax Credit to Generate $6 Billion in Remodeling Jobs

Energy Star published comprehensive information on how the housing industry and consumers can take advantage of the federal tax credits for energy-efficient home improvements in the new economic stimulus package. According to federal officials, the credits are expected to significantly increase demand for green renovation projects this year and next. Congressional economists project that the new provisions will generate an estimated $6 billion in remodeling work by the end of 2010.

Homeowners can receive a 30% tax credit, up to a total of $1,500, for doors, windows, insulation and other improvements. There are also new and expanded tax credits for new construction that include renewable energy systems and products, such as solar panels.

Remodelers are well-positioned to take advantage of increased consumer interest in consuming less power.  The newly expanded tax credits are in alignment with industry research which shows that remodeling and retrofitting the nation’s older homes will have a far more significant impact on reducing residential energy consumption than meeting even the most aggressive efficiency goals for new homes. Not only this, but the credits are a great marketing tool for HBA members. Details on qualifying improvements are available on the energy star website. Click here!