As you may have seen from today’s headlines, there’s great news for first-time homebuyers: You’ve got access to a limited-time $8,000 federal income tax credit!
So, what is the $8,000 tax credit all about?
Here’s what you’ll need to know to take advantage of this rare opportunity:
- You’re considered a qualified first-time homebuyer if you haven’t owned a home within the past three years.
- The program provides for a tax credit equal to 10% of the purchase price of a home, up to $8,000 (whichever is less).
- The credit is good for homes closed on or after January 1, 2009 and before December 1, 2009.
- A single person or a married couple can qualify for the same tax credit.
- The money from the tax credit can be used for any purpose the homebuyer wishes.
Want more information? Visit www.federalhousingtaxcredit.com.
2 comments:
grat information for homebuyers.
The market I work in is a Beach in Florida, not many if any 1st time homebuyers. Too bad our "stimulus" pkg didn't include this credit for ALL purchasers of homes this year. Seems to me that would do alot more for stimulating the housing market.
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