There has never been a better time to buy a home. The 2009 Housing Stimulus Tax Credit has been set at $8,000. Allow to me to give you a brief rundown of what it entails.

8,000 tax credit is available for first time home buyers. The law defines a first time home buyer as someone that has not owned a home in the past 3 years. All U.S. citizens who file taxes are elegible. Single family homes, townhouses, or condos, and new contruction qualify, however, it must be owner occupied. The home must be occupied for at least 3 years to avoid a recapture tax. The effective dates of this tax credit are from Jan 1, 2009 to Dec 1, 2009. Your home must close within these dates. Income limits apply.
If you are due a $2,000 tax refund, your refund will grow to $10,000

Contact me for a flyer via e-mail with the breakdown and full explaination.

Leo Namiot

Senior Mortgage Banker

www.BenchmarkCT.com