Morrtgage Market Update - Georgia Homebuyer Tax Credit - Now Passed!

Mortgage and Lending with Premier Capital Mortgage



On Monday, May 11th, Gov. Sonny Perdue signed into law HB 261 a tax credit from the state.  

Some highlights of HB261

        - $1,800 or 1.2% of the purchase price spread over 3years(1/3 each year)
        - For purchases between June 1 and November 30 2009
        - Do not have to be a first time homebuyer

        - For investment properties as well as owner occupied  
        - Only one credit per taxpayer

The tax credit is taken over a 3 year period and, unlike the federal tax credit, there is no income restriction.  The income restriction for the federal tax credit begins at $75,000 for individuals or $150,000 for married couples and then phases out.  The federal credit ends on November 30th as well. 

With up to $8000 from the federal government and now $1800 more from Georgia, coupled with the lowest home prices and interest rates in a long time - um -  this is just plain ridiculously good for buyers. 


Apply Online 

Joe Farro 
Premier Capital Mortgage




This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Home Buying
tax savings
tax tips
first time home buyer tax credit
real estate legislation

Post a Comment
Spam prevention
Spam prevention
Show All Comments
John Mulkey - Waleska, GA
Housing Guru

Joe, I suppose this adds a small incentive to the buying process; and every little bit helps.

May 16, 2009 08:08 AM #1
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

That's great to see that a state government is stepping up to help, and is willing to do it against state revenues.

May 16, 2009 10:46 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Joe Farro

Ask me a question
Spam prevention

Additional Information