This is an incredible time to buy....especially for first-time home buyers. I can’t believe interest rates are at a record low....below 5%. And then, you add the $7500 Government Tax Credit on top of that!!!
A few of my buyers have asked me what is needed to qualify for the tax credit. These are the highlights of the program....
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.
Detailed information can be found at $7,500 Tax Credit.
If you have any questions, please don’t hesitate to email, call, or comment on this blog. I will be glad to answer your questions or point you in the right direction to get you the answers you need.
Dawn Lawson, CRS, ABR
Cutler Real Estate
Dawn@DawnLawson.com
http://www.dawnlawson.com/
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Thank you Dawn for the very good information. I can see your experience is the reason so many people trust you as their realtor. Knowledge and expertise count when making such a huge purchase.
ReplyDeleteJon Mullender
Summitfencesupply.com
Great information on the tax credit! I love the additional information to help in knowing more about this opportunity. Thanks, Dawn!
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