Enhanced Tax Credit Provides Outstanding Opportunity for Home Buyers
In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.
But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible. Use the links below to find out more about the tax credit.
$8,000 Home Buyer Tax Credit at a Glance ·The tax credit is for first-time home buyers or those whom haven’t owned a home in the past three years. ·The tax credit does NOT have to be repaid. ·The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000. ·The credit is available for homes purchased on or after January 1, 2009 and before December 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. Those whom income exceeds these levels may qualify for a partial tax credit. |