1st Time Home Buyer $8,000 Tax Credit Boise Idaho

By
Real Estate Agent with 1st Place Realty LLC

Down Payment Assistance Tax Credit Advance
The American Recovery and Reinvestment Act of 2009 provided a federal income tax credit for first-time homebuyers of 10% of the sales price, up to a maximum of $8,000. This tax credit is available to qualified home buyers who purchase a home by December 1, 2009. In order to help buyers monetize this tax credit for down payment and closing costs when they purchase a home, Idaho Housing and Finance Association (IHFA), through its IdaMortgage lending program, is offering a special short-term Tax Credit 2nd Loan to qualified buyers.

In conjunction with an IdaMortgage loan, a subordinate loan will be offered to qualified first time homebuyers in 5% of the sales price up to $7,000. A fee will be charged of $250 with $150 refunded upon repayment of the loan on or before the loan due date. The loan will accrue interest at 3.0% with a due date of July 1, 2010. The Tax Credit 2nd Loan is expected to be paid off from the borrower's tax refund obtained through the application of the federal tax credit. Borrower must be a first-time homebuyer and qualify for an IdaMortgage loan.

For more information on the 1st time home buyer tax credit, including a informational video, please visit http://www.Get8000Bucks.com

To view all the homes that qualify for the 1st time home buyer tax credit vist http://www.BradleyOliver.net

 

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