First Time Home Buyers Tax Credits

Great news!! The new stimulus package provides tax credits for first time home buyers! Here is just a bit of how it works:

● available to first time home buyers (have not owned a home in the last 3 years)
● home must be used as your primary residence
● Income levels of $75,000 MAGI for individuals and $150,000 MAGI for couples to receive maximum credit
● tax credit of 10% of purchase price – up to a maximum of $8,000
● home must be purchased no later than November 30, 2009
● does not have to be repaid if you remain in the home for 3 years.

Sounds great, doesn’t it? For more details, you can follow this link http://federalhousingtaxcredit.com/.

I enjoy working with first time home buyers!! Please let me know how I can assist you in your home search.