Lafayette RE Trends: FHA Loans

By
Real Estate Agent with A La Carte Real Estate Services 1320810

FHA First-Time Buyer Tax Credit

In an effort to boost the sagging real estate market and overall economy, first-time home buyers are being offered a limited time tax credit when purchasing a primary residence. 
The highlights of the tax credit are:
•    The tax credit is available for first-time home buyers only.
•    The maximum credit amount is $7,500.
•    The credit is available for homes purchased on or after April 9, 2008 and before
July 1, 2009.
•    Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
•    The tax credit works like an interest-free loan and must be repaid over a 15-year period.

Due to the volume of questions that can be generated with the above, I would recommend clicking on the below link for answers to frequently asked questions: http://www.federalhousingtaxcredit.com/faq.php

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Topic:
Lending / Financial
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Colorado Boulder County Lafayette
Tags:
lafayette real estate
lafayette investment properties
lafayette foreclosures
lafayette fix and flip
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Rainer
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Colleen Mullins

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