Economic Stimulus Plan Benefits the Housing & Mortgage Industires

By
Real Estate Agent with Nebraska Realty

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. Rember 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.

Posted by

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
housing
firsttime homebuyers
economic
tax credit
mortgage
stimulus

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

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

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

Rainmaker
55,745

Gena Schriver

YOU MATTER OMAHA (402) 320-HOME (4663)
Request Your FREE Home Market Analysis
*
*
*
*
Spam prevention