First Time Home Buyers
A first time home buyer is defined as someone who has not owned a home in the last 5 years. If you are a 1st time homebuyer, you may be entitled to many benefits including down payment assistance, lower than market interst rates, and certain tax credits. These programs are frequently changing so you need to contact us and we will help you determine what programs you can apply for. Currently the Federal government is giving 1st time buyers an $ 8,000.00 tax credit if you close on a home on or before June 30th 2010. A single filer will have to make under $ 125,000.00 to qualify and joint filers will have to make less than $ 225,000.00 to qualify. This a tax credit you will get a check for the $ 8,000.00 even if you paid in zero taxes. In addition to the $ 8,000.00 there is government assisted down payment in the form of a bond program for 1st time buyers. This means you can purchase a home with no downpayment and still get the $ 8,000.00 tax credit! Call us soon before this program is over.
