For All Those First Time Homebuyers, IT'S TRUE!

Not a true gift, but a true interest free loan! A $7,500 tax credit which is a dream come true for the first-time buyers (you cannot have owned a home for the past three years) who buys a house between April 9, 2008, and July 1, 2009. It must be owner occupant, not an investment property.

A single individual can have a gross income of $75,000, and a married couple up to $150,000. If your income exceeds the limit, you may be eligible for a partial tax credit.

Here is a great incintive, if you purchase a home in 2009, the IRS will give you the option to claim the credit on your 2008 tax return or wait until 2009, whichever would serve you best. Is it possible Uncle Sam has a heart?

For more detailed information, please shoot me an email!