We’ve all known about this awesome tax credit for quite some time… and for those of you who are like me.. you work better under pressure, you’d rather wait until the last minute and then jump on it… NOW is the time to actively start your search for your home in order to guarantee closing by the expiration of the $8000 tax credit.

Here is some info. for you on the details of the tax credit… And, oh by the way, you can now borrow up to $6000 upfront interest free to be put towards your downpayment or closing cost credit!

It’s time for you to get in touch with us to start your property search today!

1. The temporary credit is only available for home purchases made from
Jan. 1, 2009 to before Dec. 1, 2009 and is equal to 10 percent of the
cost of the home, up to a maximum credit of $8,000.

2. Buyers claim the credit on their federal tax return to reduce their tax
liability. If the credit is more their total tax liability that year,
the buyer will get a refund check for the balance.

3. Only first-time homebuyers can take advantage of the tax credit. A
first-time buyer is defined under the tax credit as an individual who
has not owned a home in the last three years. For married joint filers,
both must meet the first-time homebuyer test to take the credit on a
joint return.

4. Eligible properties include anything that will be used as a principal
single-family residence – including condos and townhouses

5.There are income guidelines on the credit. Individuals with an adjusted
gross income up to $75,000 (or $150,000 if filing jointly) are eligible
for the full tax credit. The credit is phased down for those earning
more and is not available for those with an income above $95,000 (or
$170,000 if filing jointly).

6. The new tax credit does not have to be repaid if the buyer stays in the
home at least three years. But if the home is sold before that, the
entire amount of the credit is recaptured on the sale.

7. People who purchased homes under the 2008 $7,500 tax credit program
will still be required to repay that credit to the government over a
15-year period.

8. There are many more details that could greatly benefit you. Get in
touch with me so we can discuss the best way for you to utilize this
limited time offer

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