Here's a terrific reminder from my friend Leander McClain about the first time homebuyer tax credit. This opportunity is also available for first time buyers in Passaic, Essex, and Morris Counties. With inventories of homes high (lots to choose from), interest rates low (lowest in many years) and now this tax incentive, it is truly a great time to buy your first home.
Give us a call today!
Jim Albano and Jean-Marie Vantuno
39 E. Main St.
Little Falls, NJ 07424
973-256-0303 ext 218
FIRST TIME HOMEBUYERS,
Don’t Let This GREAT Opportunity Pass You By.
The first-time Home Buyer Tax Credit was passed on July 30, 2008 as part of the Housing and Economic Recovery Act and targets any individual or household that has not owned a home for at least three years. Taxpayers can take the credit on their 2008 tax return if they bought their house this year after April 9, 2008 and before July 1, 2009.
· If you owned a home more than 3 years ago, but don’t today…..YOU QUALIFY AS A FIRST TIME HOME BUYER
· The tax credit is available for first-time home buyers only. A tax credit is a dollar for dollar reduction in the amount of money you owe the Government. I.e., if you owe $1,000, but receive a $1,000 tax credit….now you owe nothing. This is just like getting FREE money.
· The actual credit received is 10% of the price of the home purchased. The maximum tax credit amount is $7,500.
· The credit is available for homes purchased on or after April 9, 2008 and before
July 1, 2009. This great opportunity is ending soon. Don’t wait until it’s too late to take advantage. Call me today to discuss you home buying options
· 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.
Call me today. Housing inventories are at an all time high. That means there are lot’s of homes available. The second great thing is……all homes are on sale. Who doesn’t love a sale? I know I do.
Text, email or call me and we can discuss your options.
Have a great day
and Make This Your Best Year Ever