Home Buyer Tax Credit

By
Real Estate Agent with Vision R.E. Lakeshore

Tax Credit for Homebuyers

First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit.  Remember a tax credit is very different than a tax deduction - a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.

The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000.  Buyers will have to repay the credit if they sell their homes within three years.

This along with great rates, vast inventory, and homes priced aggressively, say now is the time to buy and begin to build wealth in real estate.

Paul Dumke

269-921-1125

Paul@PaulDumke.com

www.BerrienCountyProperties.com

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