First-Time Homebuyer Tax Credit – Frequently Asked Questions
What is a tax credit?
A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed.
Unlike the tax credit that existed in 2008, this...
First Time Home Buyers $8000 Tax Credit
Posted by William Doom in Featured Articles, First Time Home Buyer, Mortgage on 04 24th, 2009 | No Comments
Not only are prices great and mortgage rates low, but there is also an $8,000 Tax Credit for First Time Home Buyers which equates to now is a great time to buy a home!
So what defines a First Time Home Buyer? The IRS website states that a first time home buyer is anyone that has not owned a home in the...
First Time Homebuyer $7,500 Tax Credit
Posted by William Doom in Featured Articles, First Time Home Buyer, Mortgage on 01 28th, 2009 | 1 Comment
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A new $7,500 tax credit for first-time home buyers is a temporary incentive from the government (Read all of HR 3221) to boost interest in real estate – but the time frame to take advantage of the credit is limited (Purchases on or after April 9, 2008 until July 1, 2009).
The...
