First Time Home Buyer Tax Credit Scenarios

First Time Home Buyer Tax Credit Scenarios

I typically pass off specific tax credit questions to a tax advisor or CPA. So when a Realtor asked me today about a co-signer on an FHA loan, and if the first time buyer still qualified for the tax credit, I thought "yes", but wanted to make sure.

A quick drop by to the IRS site (IRS.gov) and a few clicks and I found my answer. The first time buyer with a co-signer DOES qualify for the tax credit.

For a list of other scenarios that may help buyers understand, check out this link to the First-Time Homebuyer Credit scenarios on the IRS website.

 

Steve Kappre is a mortgage loan officer in New Jersey with Treasury Mortgage, a subsidiary of Aurora Financial Group. For more info check out:

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