It's Getting Down to the Wire for First-Time Homebuyers to Cash in on the $8K Tax Credit

It's Getting Down to the Wire for First-Time Homebuyers to Cash in on the $8K Tax Credit

Trust me, I know what it's like to put off that big decision, especially one as huge as purchasing your first home. Perhaps April 30 still seems a ways off ... but it's actually only 79 days! That's final date you have to purchase a home and still qualify for the first-time homebuyer's $8,000 tax credit. 79 days to find an experienced REALTOR, get qualified for a loan, and find the house of your dreams. In other words, it's time to get moving!

I've written a useful, informative ebook to help you navigate this process - and it's yours for FREE. Just visit phoenixfirsthomebuyer.com to download it today!

This $8,000 tax credit for first-time buyers can be a HUGE help, because it's completely refundable. This means you can claim the credit even if you have little or no federal income tax liability to offset. The way it generally works is that the government sends the taxpayer a check for a portion or even the total amount of the refundable tax credit.

Here's a quick example. Let's say you owe $1,000 in income tax for the year, before the tax credit. You now qualify for the $8,000 homebuyer tax credit. The end result is that you'd receive a refund check for $7,000 (the $8,000 credit, less the $1,000 you owed).

OTHER DETAILS of the TAX CREDIT 

• Home must be purchased between November 6, 2009 and April 30, 2010. Sale must close by July 1, 2010.
• Buyers must not have owned a home anytime in the 3 years prior to new-home
  purchase.
• Tax credit applies to primary residences, including single-family homes, condos, town homes, and co-ops. Vacation homes DO NOT apply for the tax credit.
• The maximum allowable credit is 10 percent of the purchase price, up to $8,000. The total amount is determined based on two factors: the purchase price of the home and the buyer's income.
• Income limits are up to $125,000 for singles and $225,000 for married couples. Lesser credits are available for singles earning up to $145,000 and married couples earning up to $245,000.
• The cap on the purchase price is $800,000.

This is one opportunity you definitely want to take advantage of - but it means you've got to act now! Download my free ebook, and then call me today at 602-595-8900 to get started. 

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Thinking of buying or selling a home in the Phoenix area - or know someone who is?

This is the PERFECT climate for move-up buyers. Find out how we can help make the buying or selling process simple, stress-free, and enjoyable. Feel free to contact me by phone 602-595-8900 or email me.

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You can also visit our website for more information on Phoenix and the surrounding areas and download my First-Time Homebuyers' e-book.

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