If you purchase a home before September 1, 2009 and you are a first time home-buyer (someone who has not purchased a home within the last 3 years, see http://www.hud.gov/offices/hsg/sfh/ref/sfhp3-02.cfm for exact details) you will be eligible to receive a tax credit for $7,500 which does not have to be repayed. The previous stimulus bill had the tax credit listed as a repayable interest free loan for 15 years. However, there are income limits that disqualify 1st time homebuyers to receive the credit for those single home purchasers who make more than $95,000 in adjusted gross income and $170,000 for married couples who file jointly.
For more information check:
http://www.seevalleylistings.com/article.aspx?xml=http://realtytimes.com/rtnews/xml/20090216_washingtonreport.xml
Specializing in Residential and Commercial Property Sales and Leasing Transactions in the San Fernando Valley, Greater Los Angeles areas.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
