I hear it... If you are a first time home buyer it's not a whisper but a roar that you hear. The $7500 Federal Tax Credit for first time buyers is up in less than 6 months. For the purpose of the Federal Tax Credit the law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. So, even if you owned a home over 3 years ago you are considered a first-time home buyer for tax purposes.
The $7500 Federal Tax Credit is a Dollar for Dollar refund or will decrease your tax bill and is paid back over 15 years. This is just one of the oppourtnities that awaits you. The most affordable prices in years and historically low interest rates makes NOW the time to buy a home.
For additional information about the $7500 Federal Tax Credit, please visit the IRS Website.
Debbie Summers, Lake Mary REALTOR, ALHS, ePRO
407-758-1020 or Debbie@MoveToLakeMary.com
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