$7,500 First-Time Home Buyer Tax Credit

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/