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tax credit: $8,000 First-Time Homebuyer Tax Credit- Refundable! - 03/16/10 01:36 PM
This is a dollar-for-dollar tax reduction offered only to first-time homebuyers.
Credit amount is 10 percent of the value of the home, not to exceed a maximum of $8,000 (no credit is available for homes with a purchase price of more than $800,000).
This tax credit is offered to the first-time purchaser of a sinyngle-family home (including condos) that is to be used as a primary residence (purchases from close relatives are exempt).
Purchasers who utilize the NMMFA Bond Program are also eligible to recieve this credit.
The income limit for this credit is $125,000 for an individual or head-of-household (Form … (0 comments)
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tax credit: $6,500 Trade-Up Homebuyer Tax Credit- Refundable! - 03/16/10 01:05 PM
This tax credit is offered for the purchase of any single-family home (including condos) that is to be used as a primary residence (purchases from close relatives are exempt).
To be eligible, one must be a long-time resident that has lived in the same primary residence for 5 consecutive years within the 8-year period prior to the purchase of the home. The borrower must be 18 years of age or older, and must not be filed as a dependent.
The income limit for this credit is $125,000 for an individual or head-of-household (Form 1040) and $225,000 for those filing a joint … (3 comments)
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tax credit: Tax Credits: Not Just for First Time Buyers! - 11/19/09 01:49 PM
New Federal law provides up to $6500 in federal tax credits for qualified move-up and repeat home buyers purchasing a new principal residence.
To qualify for this tax credit, buyers must purchase a new home by April 30, 2010 (or have the home under binding sales contract by that date, with a closing no later than June 30, 2010.) To qualify, a buyer must have owned and resided in a home for at least 5 consecutive years of the eight years prior to the purchase date.
And this tax credit is "refundable," which means that the credit can be claimed … (0 comments)
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tax credit: New Mexico loans down payment money 'til your $8000 gift from Uncle Sam arrives! - 05/11/09 02:14 PM
Are you a first-time homebuyer? Or someone who has not owned a home in 3 years?
If so, you should be aware of a couple of BIG handouts the government is offering:
1) Uncle Sam wants to GIVE YOU, free and clear, up to $8000 to buy a home!
2) The State of New Mexico will loan you the necessary down payment money, up to $6500, to make the purchase, while you wait for that check to arrive from the federal government!
Sounds too good to be true, but it really is!
As part of their effort to boost the economy, … (4 comments)
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tax credit: Uncle Sam wants to give you $8000! - 03/29/09 01:57 PM
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Laura Warden
Albuquerque,
NM
More about me…
Choices Real Estate
Office Phone: (505) 263-0665
Cell Phone: (505) 239-4796
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Greater Albuquerque neighborhood, community, and real estate tips, updates, and info
provided by Laura Warden, Albuquerque real estate and horse property specialist.
My husband, Brian, and I provide four detailed websites to serve your specific needs:
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