Included in President Obama's economic stimulas plan is an $8000 First Time Home Buyer Tax Credit!
To qualify for this credit you have to purchase a home between January 1st, 2009 and December 31, 2009.
You have to be a First Time Home Buyer or have not owned a home within the last the 3 years.
You will receive 10% of the purchase price up to a maximum of $8000.00. So if you purchase a home for $70,000.00 you will receive $7000.00 any home purchase of $80,000 and above qualify's you for the full $8000.00 credit.
This is a true tax credit not a deduction. So when you file your taxes you will be getting $8000.00 from the federal government.
If you are considering buying a home now is the time to jump off the fence and do it! My next post will feature a question and answer section on this credit and go further in depth on the subject.
Please feel free to contact me anytime at 315-515-8348 to get immediate answers to your questions.
Thursday, February 26, 2009
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