Everyone knows that for this economic crisis the first time home buyers are also the major reason. Even though Obama makes clear that in his Stimulus Package loans will be provided to first time home buyers. The reason behind this idea is that in USA real estate market has reached its worst mark and to strengthen it, the only way is by boosting many new works and constructions. So if new home buyers are encouraged then the real estate will boost to some level.

This kind of stimulus package applies only to people who haven't got new homes for at least three years and this plan will make many American people dream come true as their biggest dreams will be getting a own home. This loan is available not only for new home but also for pre-sold homes. If this plan reaches to people in a successful manner then this will create many works for unemployed, construction industry will boom, and unsold homes will come into lights.

In this program the government offers three things to people and they are Tax Credits, Down Payments in Funding and Interest rate at a minimum.

In the case of Tax credit the government offers 10% tax credit for purchase of new homes in the year 2009. This tax credit could be used in an efficient manner like paying the property taxes and recovering some down payment as this will be difficult task for many owners. The same 10% down payment is given for each new home this could be used for making any improvements in home and finally tax rebate is offered to new home buyers with their loan interest.

As it has many benefits to both people and government this program is considered to be one of the greatest ideas of obama's creative thinking and thoughts.