Interest rates over the last few weeks have been floating in the 4.8 range, unbelievable! Unless otherwise extended again the $8,000 first time home buyer government tax incentive is in effect until April 30th. If you are a previous owner of a home and had resided in the home for 5 out of the last 7 years you also have a $6,500 government tax incentive. You may qualify for a loan with RDA or many other avenues.