|
FIRST TIME HOME BUYERS TAX CREDIT
|
|
|
Frequently Asked Questions
How much is the credit?
The tax credit would be $8,000 or 10% of the purchase price, whichever is less.
------------------------------------------------------------
What type of purchase is eligible?
Similar to the $7,500 tax credit included in the Housing and Economic Recovery Act of 2008, the $8,000 tax credit included in the 2009 economic stimulus plan is available for the purchase of a principal residence by first-time homebuyers.
------------------------------------------------------------
Who qualifies for the first-time homebuyer credit?
According to the IRS, any taxpayer who has not owned a home during the 3 years prior to the date of purchase can qualify for the credit.
------------------------------------------------------------
And I really don't have to repay the credit?
No. This is a change from the previous $7,500 tax credit. However, if the home is sold within three years of purchase, the credit will be reversed.
------------------------------------------------------------
Are there income limitations on the tax credit?
The tax credit begins to phase out for individuals with adjusted gross income over $75,000 ($150,000 for joint filers).
------------------------------------------------------------
Let me help you take advantage of this Credit!
|
Facebook Discussion Board
Post your thoughts
read more...
|
|
|
| |
Thank you for taking the time to search my Website.
I'll try to make your real estate transaction as easy as possible in all aspects. Starting with searching the website for that perfect home or lot to closing the sale.
Real estate is a great investment whether the market is up or down. By taking advantage of the low interest rates and a great selection of listings, you should see an impressive return on your investment several years from now. I think back to my first year as a Realtor® (1993!) and am in awe by the return a seller would enjoy if they were to sell today.
Sign up for my New Listings Notification and beat other homebuyers to the hottest new homes for sale in your desired area. Or if you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation.
|
|
Please browse my website for listings, reports and important local real estate information. Then contact me for an appointment to discuss one of the biggest financial decisions you may make.
Regards,
Dodie Stark
Associate Broker
Coldwell Banker
Anchor Real Estate |
| |
|
Links
|
|
|
HELPFUL REAL ESTATE LINKS
|
|
|