phase out: HUD to Allow First Time Buyers to Use $8,000 Tax Credit - 06/06/09 12:47 PM
FHA qualified buyers are first-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.  A "first-time home buyer" the purchaser or his/her spouse may not have owned a residence during the 3 years prior to the purchase.
Eligible properties are: Primary Residential Residences that are single-family homes, condos, townhomes, and co-ops.
The maximum allowable credit for home buyers is $8,000. Each home buyer's tax credit is determined by two factors:
The price of the home-the credit is equal to 10% of the purchase price of the home, up to $8,000. The buyer's income-single buyers with incomes up … (0 comments)