Want some of That $8,000 Credit On your 2008 Income Tax Refund Southern Oregon 1st Time Home Buyers?

By
Mortgage and Lending with Karen Pierce | Mortgage Loan Originator NMLS#223305 |360 Mortgage Group LLC NMLS #155922 Austin Texas NMLS 223305

If you qualified for the tax credit as approved in the American Recovery and Reinvestment Act of 2009 - i.e. you are a first time homebuyer (haven't owned a home in the past 3 years), your income does not exceed $75,000 for a single filer or $150,000 for a joint filer, and you purchase a home before December 1, 2009 you will be eligible to a tax credit of up to $8,000 or 10% of your purchase price, whichever is less.

So, first time home buyers who have not yet filed their 2008 federal income tax return and your escrow for your qualified purchase of your main home closes between January 1 and December 1, 2009, make sure you file to get your credit! A credit that will not have to be repaid, as long as the home you purchase remains your main home for 3 years from closing.

See you at the closing table!

Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com

Posted by

Karen Cooper Southern Oregon|California Mortgage ConsultantKaren Pierce - Mortgage Loan Originator

               NMLS #223305

AL, AZ, CA, FL, GA, IN, IA, KY, MD, OR, TN, TX, VA, WA, WI

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Rainer
130,000
Rich Dansereau
Positive Real Estate Professionals - Knoxville, TN

This is some really good information on a really beneficial program. I hope that everyone who is eligible takes full advantage of it.

Feb 26, 2009 04:53 AM #1
Rainmaker
128,145
Amy McAllister
Amy McAllister Realty LLC - Hood River, OR
REALTOR Hood River, Oregon

Hi Karen, This is good information to be aware of. I'm hoping it will be an incentive for buyers and the market will pick up.

Mar 01, 2009 05:29 AM #2
Rainmaker
334,338
Karen Cooper
Karen Pierce | Mortgage Loan Originator NMLS#223305 |360 Mortgage Group LLC NMLS #155922 Austin Texas - Austin, TX
Professional Mortgage Specialist

Hi Rich & Amy - Doesn't this make a wonderful opportunity for the eligible buyers? The students in our ABC's of Homebuying classes are so excited that they can pay as much as they've been paying in rent anyway, yet own their home and have tax benefits. Most figure the benefits far outweigh the possibility home prices may come down a bit more, even though our real estate market here in Southern Oregon has not been hit nearly as hard as other real estate markets.

Thank you both for your comments.

Mar 04, 2009 09:51 AM #3
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Rainmaker
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Karen Cooper

Professional Mortgage Specialist
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