Real estate blog entries tagged with housing assistance tax act by Richard Smith FHA VA Rural Development in TN GA

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Home : Blogs : Richard Smith FHA VA Rural Development in TN GA : Richard's Real Estate Thoughts : Tag "housing assistance tax act"

housing assistance tax act: First time buyer credit - Housing Bill provides a tax credit for First Time Home Buyers - 07/29/08 12:31 PM

The $7500 tax credit for first time home buyers is a significant incentive to purchase. It is a major positive provision in the Housing Bill that passed Congress over this past weekend. This is a credit not a deduction, which means it directly reduces the taxes owed - dollar for dollar.
This gives the new home owner directly as much as $7500 cash in the pocket at tax refund time.
The credit incentive is retroactive back to April 9, 2008 and continues through June 30, 2009. The incentive is 10% of the purchase price up to a maximum of $7500.
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Richard Smith FHA VA Rural Development in TN GA

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