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Create A BlogTax Credit --time is running out! |
Aug. 28, 2009
Categorized in: Real Estate News
Tagged with: first time homebuyer, tax credit time is running out
As most of you know, the government $8000 tax creit for first time homebuyers in coming to an end soon. With interest rates at all time lows, home prices now affordable, and recent zero down programs entering the market again....now is the time to get your friends or family who have always dreamed of buying a home a chance to fullfill that dream. Have them call me! Technically they can get $8000 back when they buy a home.
$8,000 Home Buyer Tax Credit at a Glance
The information on this page pertains to the American Recovery and Reinvestment Act of 2009.
· The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
· The tax credit does not have to be repaid.
· The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
· The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
· Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
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