$8000 Home Buyer Tax Credit
Attention 1st Time Home Buyers! Your time line to receive the 1st Time Home Buyer Tax Credit is running out. In order to qualify you must be closed by November 30th. Currently many FHA loan are requiring 45 days to close a loan. This means that if you wish to take advantage of this opportunity you need to be under contract by October 17th!
If you are still confused about this process please watch this informative video.
A short video to recap the $8000 home buyer tax credit due to expire Nov 30th. The 5 key points in my video will cover; #1 The deadline and what this means. #2 The IRS' broad definition of what a first time home buyer and who does and doesn't qualify for the credit. #3 Understanding that it truly is a credit and not a deduction or loan that needs to be repaid back. #4 How the credit can or cannot be used in reference to closing costs and down payment. #5 How to amend your 2008 taxes to receive the $8000 credit weeks after closing versus waiting until next Spring to file and the forms needed to receive the credit and amendment.
Comments(0)