Posted by madisonmortgage on September 8th, 2009
In order to take advantage of the first time home buyer credit, you must close no later than November 30, 2009.
The $8000 tax credit for first time home buyers provided by the stimulus package offers anyone who has not owned a home in the past 3 years an $8000 tax credit maximum, or 10% of the home price. Best of all, it does not have to be repaid if homebuyers live in the hoe 3 years. Take advantage of the $787 billion American Recovery and Reinvestment Act today!
- There is a $75,000 adjusted gross income limit for tax filers filing as single and $150,000 limit for joint return filers.
- The $8000 tax credit is available only for primary residence purchases.
- The tax credit does not require a repayment in most cases.
- The tax credit does have a repayment provision if the homeowner does not occupy the property for a minimum of 3 years from the closing date.
- The home buyer must purchase a home between January 1, 2009 and December 1, 2009.
- The $8000 tax credit is received when you file your tax return.
Visit our home buyer credit announcement on our website for additional details:
http://www.madisonmortgageguys.com/announcements/8000_tax_credit/updates/index.htm
Dennis Hardy
Toll Free: (877) 240-5810 x104
dennis.hardy@madisonmortgageguys.com
www.madisonmortgageguys.com
Visit my blog at http://www.madisonmortgageguys.com/blog/
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This entry was posted on Tuesday, September 8th, 2009 at 9:03 pm and is filed under Articles.
