May 2009

There are 1 blog entries for May 2009.

$8,000 First Time Home Buyer Tax Credit

$8,000 First Time Home Buyer Tax Creditjcredit_311As many people are aware, there is an $8,000 first time home buyer tax credit available. That in conjunction with low interest rates and the incredible affordability of entry level homes in today's market makes it a great time to buy.

General Information on the Tax Credit Program:

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…
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