First Time Home Buyer Tax Credit Top 10 list - by Bo Kociuba, Realtor, www.Okla-OK.com
Yes now is the time to buy your first Johnson County Home. $8000 for you.
This is an outstanding opportunity for the First Time Home Buyers.
The Congress has signed into law the legislation providing first time home buyers with a credit of $8000!
Time is of the essence. The home purchase must happen before December 1st, 2009. This is really not a lot of time to check one's credti report, FICO Score, take care of needed repairs or corrections, find a responsible and reputable mortgage lender, shop for most suitable financing option, finding friendly and knowledgeable Realtor, start the house search quest, arrange for sale of a current house, include vacations, save for downpayment, everyday life etc, etc...all of these take a lot of time and lots of planning. To find information about location, neighborhood, schools etc is not an easy and quick task.But don't worry. You are not alone, you have a friend in the business!
Let's meet together and I will help you plan for new home ownership.
FIRST TIME HOME BUYERS TAX CREDIT TOP 10 LIST
- Amount of Credit - 10% of purchase price, not to exceed $8,000
- Eligible Property - Single family residence (principal residence)
- Not Refundable - Reduces or eliminates income tax liablity, will receive refund for unused amount
- Income Limit - Single taxpayers with income up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit
- First Time Home Buyer - Purchaser and Purchaser's Spouse may not have owned a principal residence in three years previous to purchase
- Revenue Bond Financing - Purchasers who utilize revenue bond financing can use credit
- Repayment - no repayment for purchases on or after January 1st, 2009 and before December 1st, 2009
- Recapture - If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009
- Termination - Program expires on December 1st, 2009
- Effective date - Effective as of January 1st, 2009
Call me if you need additional information or have a question...405-812-1572
With smiles,
Bo
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