What First Time Home Buyer Tax Credit you ask??? The Housing and Economic Recovery Act of 2008 provides a $7,500 tax credit for qualified first-time home buyers. It also includes other provisions that help prevent foreclosures, reinvigorate the housing market and strengthen the economy.
Here's the First-Time Home Buyer Tax Credit at a glance:
- The Tax Credit is available for First-Time Buyers only.
- The maximum credit amount is $7,500.
- It is available for homes purchased on or after April 9, 2008 and before July 1, 2009. (It expires June 30, 2009).
- Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
- The tax credit is like an Interest-Free Loan and must be repaid over a 15-year period.
If you're a first-time buyer and you purchased your home after April 9, 2008 and you didn't know about this program, you can still take advantage of it. Click here for more information.
If you'd like to purchase your first home and you aren't already working with an agent, I'd love to help you find your first home so that you can take advantage of the $7,500 Tax Credit. Give me a call, I'm looking forward to meeting you.
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When buying or selling a home in North Central, North East or North West San Antonio, TX, you deserve local expertise and advice. Judi Morgan provides full time, professional real estate services to buyers, sellers, corporate and military transferees in San Antonio, Stone Oak, Canyon Springs, Shavano and Shavano Park, Castle Hills, Rogers Ranch, Helotes, Sonoma Ranch, Alamo Ranch, Red Bird Ranch, The Dominion, Leon Valley and more.
Copyright 2009. Judi Morgan, All rights reserved.
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