There are currently 7 blog entries related to this category.
TAX CREDIT EXTENSION DETAILS
For more information about the Homebuyer Tax Credit extension please visit this page for additional details and materials
For more real estate and market videos click here.
1. To qualify, first-time and repeat buyers must enter into a written binding contract by April 30, 2010 and close by June 30, 2010.
2. You qualify as a first-time homebuyer if you (and your spouse, if married) have not owned a primary residence for a 3-year period before your purchase, and you have never taken advantage of the DC first-time homebuyer credit.
3. Buyers qualify for the repeat buyer credit if they have lived in their primary residence for five consecutive years of the past eight years. A primary residence is generally regarded as the residence where an individual spends most…
$8,000 First Time Home Buyer Tax Credit
$8,000 First Time Home Buyer Tax CreditAs 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…