What do you know about the first-time home buyer tax credit?
Posted 11-22-2008 at 01:11 PM by TeamFoster
Now is a perfect time for first time home buyers to buy a house. Prices are affordable, and now even more help is available.
For the purpose of this credit first-time home buyer is defined as someone who has not owned a home in the past three years.
The Federal Government has enacted legislation that provides a tax credit of up to $7500.00 for first time home buyers.
If you buy a house between April 9, 2008 and before July 1, 2009 you are eligible for the credit. The amount you are eligible for depends on the price of your home, your mortgage and your income. Most first time home buyers will qualify.
The tax credit works like an interest-free loan. It will be repaid over a 15 year period. For instance if you qualfy for the maximum credit then $500.00 would be deducted from your refund each year for 15 years. People who have a mortgage will have plenty of refund to work with.
For more information visit www.federalhousingtaxcredit.com
For the purpose of this credit first-time home buyer is defined as someone who has not owned a home in the past three years.
The Federal Government has enacted legislation that provides a tax credit of up to $7500.00 for first time home buyers.
If you buy a house between April 9, 2008 and before July 1, 2009 you are eligible for the credit. The amount you are eligible for depends on the price of your home, your mortgage and your income. Most first time home buyers will qualify.
The tax credit works like an interest-free loan. It will be repaid over a 15 year period. For instance if you qualfy for the maximum credit then $500.00 would be deducted from your refund each year for 15 years. People who have a mortgage will have plenty of refund to work with.
For more information visit www.federalhousingtaxcredit.com
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Did you take that picture of the eagle yourself? Is it ©copyrighted?Posted 11-23-2008 at 04:18 AM by 2goldens
