What exactly is the $8,000 first-time homebuyer tax credit?
The American Recovery and Reinvestment Act of 2009 allows you the new home buyer a tax credit of up to $8,000 for qualified first-time home buyers purchasing a home after January 1, 2009 and before December 1, 2009.
The following questions and answers provide basic information about the tax credit. Click on this link to see the FAQ's. http://www.bradleyoliver.net/taxcredit
See the IRS form 5405 for complete details to claim the tax credit this year. Click here and scroll down to where it says First-Time Home Buyer Tax Credit information
To watch a FREE video about the first-time home buyer tax credit click here http://www.bradleyoliver.net/taxcredit
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You might even be able to use up to $7,000 of the $8,000 first-time home buyer tax credit towards the downpayment! To see how this works, call or email me at 208-947-4659 or Bradley@Century21.com
Concerned about the closing costs? Don't worry. Sellers are more motivated to help out buyers with the closing costs to get their home sold. I just recently helped a buyer get over $7,700 paid by the sellers!
Mortgage rates are still very low! If you are in the market to buy this year, now might be the very best time to do that! Rates can and will rise at anytime.