Did you know that if you have not owned property in the last 3 years that you are considered a first time homebuyer? That means that you may be eligible for the $8000 first time homebuyer credit if you purchase a home before December 1st, 2009.
The program is fairly simple:
·Must be first time homebuyer – That means you haven’t owned a home in the past three years, and your spouse hasn’t either if you’re married.
· Purchase home before December 1st 2009
·File an amended return on your 2008 tax return, or wait to file on your 2009 tax return
·The credit is for 10% of the purchase price, up to $8000
· The credit amount starts phasing out if you make more than $75,000, or $150,000 if you’re filing a joint return.
·Enjoy the benefit of an $8000 tax credit
With interest rates at historic lows, homes being aggressively priced, and an $8000 tax credit, now is an outstanding time to be a first time homebuyer! But don’t forget, this offer does have an expiration date. To be eligible for this money, you must purchase before December of this year. So call a Mortgage Professional, get pre-approved, and go out there and find your dream home!
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John H says:
July 15, 2009 at 3:31 pm (UTC -5 )
Joe,
thank you for letting us know the perameters of this program. We owned a home a few years ago, however, we did not think that we could qualify for the credit. This has sparked our interest, and we will be in touch. Thank you again!
Brevard County Mortgage and Real Estate Market Data: September 2009 | Joe Knows Mortgages says:
October 26, 2009 at 1:41 pm (UTC -5 )
[...] loans, many are enjoying the benefits of these government insured and guaranteed loans. With the $8000 First time Home Buyers credit still being offered, first time homebuyers are rushing to the market to find their dream [...]
Brevard County Mortgage and Real Estate Market Data For July 2009 | Joe Knows Mortgages says:
January 1, 2010 at 4:59 pm (UTC -5 )
[...] loans, many are enjoying the benefits of these government insured and guaranteed loans. With the $8000 First time Home Buyers credit still being offered, first time homebuyers are rushing to the market to find their dream [...]