$8000 Tax Credit

    Congress has passed new legislation which gives first-time homebuyers up to an $8000 tax credit. Here are some highlights:

    • Home must be purchased between 1/1/09 and 12/1/09
    • First-time homebuyers are defined as those who have not owned a principal residence in the last three years
    • The tax credit DOES NOT have to be repaid.

    If you’ve been waiting on the sidelines, we can not stress enough the value of this tax credit and that you should act now! For more information, visit this web site.

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    5 Responses to “$8000 Tax Credit”

    • Anonymous

      Written on

      I’ve been thinking about buying for awhile…but didn’t think now was really the right time with the economy. But I’m starting to think you are right…there seems to be a lot of options out there right now and this $8000 is basically free money.

      Reply
    • Anonymous

      Written on

      I have owned a home in the last three years, but my wife has not. Can we buy something and get the $8000 credit if we make her the primary owner?

      Reply
    • Mark Deutschmann

      Written on

      Unfortunately, no. If you are married, if one of you currently owns or has owned in the last three years, then you will not be eligible. However, there are many programs out there right now that lenders have access to in order to help you in the homebuying process. I would recommend that you talk to a lender you trust, or contact our preferred lender (CityLife Lending – http://www.citylifelendinggroup.com), and find out what is available to you.

      Reply
    • Anonymous

      Written on

      Can the $8000 tax credit be applied to our 2008 taxes we are filing now?

      Reply
    • Mark Deutschmann

      Written on

      It can! Pretty convenient, huh? Talk to your lender about how this works.

      Reply

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