Great News! Senate Voted yesterday to exend the $8,000 First Time Home Buyer Tax Credit to June 1st (meaning a purchase agreement would need to be in place by April 3oth, 2010). They have also voted to give existing home owners a $6,500 tax credit to expire on the same date.
The House is supposed to vote on it today…….hopefully it passes and improves the housing market.
Posts Tagged ‘Tax Credit’
Possibly Tax Credit Extended and now includes Everyone!
Thursday, November 5th, 2009Rates have dropped again!
Friday, March 20th, 2009WOW!!!
Can it get much better. For those of you with qualified credit, rates on FHA mortgages have dropped to the MID 4s!!!! Keep in mind, THE GOVERNMENT IS GIVING UP TO $8000 TO FIRST TIME HOME BUYERS WHO BUY A HOME IN 2009!!!!!!!!!! That coupled with the extremely low rates is a DREAM COME TRUE!!!
New revised First Time Home Buyers Tax Credit…The Details!
Monday, February 23rd, 2009Tired of Paying Rent? It’s official!…The new revision was signed last week. Take note first time homebuyers……..this is YOUR time to jump into the market!
A. Tax Credit is increased to $8,000
B. The income limits remain the same ($75,000 for an individual; $150,000 for a couple).
C. First Time homebuyers and Principal Residences only.
D. Tax credit is available until December 1st (previously it expired on July 1st).
E. Waiver of recapture (i.e. no repayment requirement) for properties purchased in 2009 prior to December 1st
- The provision is retroactive to purchases made on or after January 1, 2009.
- Recapture section does not apply to properties sold in first three years.
F. Waiver of prohibition on financing by mortgage revenue bonds is included.
There has never been an easier, better time to buy a home. Call me and ask about my rent buster program……I may be able to help you out of your lease.