•      The $ 8000 Federal Tax Credit

How homebuyers can get 10 % of the price of a home purchase refunded up to $ 8000

To qualify you must be a first time homebuyer which is defined as anyone who has not owned a home in three years. This generally applies to all adults living in the home.

The home must be your primary residence.

There are income limits but they are quite high, consult your tax professional. 

 You must close before December 1, 2009. So, start today !!

You must live in the home for a specific time period, generally three years.

This is not  a loan,if all conditions are met, you need not pay it back.

• It is not a tax deduction. It is a dollar for dollar  increase in the tax refund  you would otherwise receive, or a decrease in the tax bill you normally pay. If you would ordinarilly receive a $ 1000 tax refund next tax season, you will get $ 9000 instead  if you buy a home costing $ 80,000 or more. If you normally pay $ 2000 at tax time, you would receive a refund of $ 6000.

You are credited 10% of the purchase price or $ 8000, whichever is less. For example; a $ 50,000 purchase would get a $ 5000 tax credit. Likewise, purchase prices over $ 80,000 all get the same credit. The limit is $ 8000.

 Interest rates are at wonderful historically low levels. A thousand dollars can now be borrowed for a payment of less than six dollars per month.  Many home prices have fallen. There may never be a better time to buy a home.

Money is readily available ! You need not have perfect credit. In general a credit score of 620 is high enough.

NO DOWN PAYMENT PROGRAMS ARE STILL AVAILABLE  !!!! Call or email us today. Or click on the Apply now link.

**********    Your tax refund can be affected by a great many factors and each should be reviewed by your tax professional          *******************