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Wake Forest NC - $8,000 Tax Credit FAQs
Time is running out to take advantage of the unbelievable $8,000 Tax Credit that is available to First Time Homes Buyers!  
I have had several phone calls and emails regarding the tax credit so I thought this post might serve to answer a few of the FAQs!
Am I eligible for the Tax Credit?    First-time home buyers purchasing any kind of home, whether it be a new home or a resale, are eligible for the tax credit.  However, the home purchase must occur on or after January 1, 2009 and before December 1, 2009.  The purchase date is the DATE OF CLOSING! What is the definition of a First Time Home Buyer?  If you have not owned a primary residence within the last 3 consecutive years you are defined as a First Time Home Buyer. How is the amount of the tax credit determined?  The tax credit is equal to 10% of the homes purchase price up to $8,000. Is there a limit to my income if I want to claim the $8,000 Tax Credit?  Yes!  If you are single your income limit can be no more than $75,000 and if you are married your combined income limit can ... more

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