Purchase a home now and take advantage of the new tax credit of
up to $8,000
up to $8,000
A benefit that makes your new home more affordable
A tax credit is available for first-time homebuyers under the American Recovery and Reinvestment Act of 2009. If you buy a home between January 1, 2009 and Novermber 30, 2009 you may be eligible to receive a tax credit for 10% of the purchase price of your home--up to $8,000. Program highlights include:
- Any individual (and if married, their spouse) who has had no ownership interest in a home during the last three years is eligible
- Full credit for single taxpayers with incomes up to $75,000 ($150,000 on a joint return); partial credit for incomes up to $95,000 ($170,000 joint return)
- Applies to the purchasse of a single-family home (including condos, co-ops, townhomes, etc.) that will be used as a principal residence
- Homeowners can reduce (or even eliminate) their income tax liability for the year of purchase by claiming the credit on their tax return
- If the home is sold before 3 years, the first-time homebuyer (who is now the seller) must pay the IRS the entire amount of the tax credit at closing
For more information email Phill at [email protected]
or call him at (619)200-7156
or call him at (619)200-7156
