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In an effort to boost the real estate market out of its slump, the government of the United State establish a new stimulus package. Two groups are being targeted by this incentive program: first time buyers and current home owners wanting to trade up. For new home buyers, the federal government is offering a credit of up to 8,000%. This is not a loan but a real credit as long as the buyer remains in the property for at least three years. For the current home owner group, a tax credit of up to $6,500 is bring offered to them. To qualify, you must have lived in the same house for five consecutive years and the new property must become your new primary residence.