Manalapan and Marlboro New Jersey First Time Homebuyers & The $8,000 Tax Credit

Here is a summary of the new First Time Homebuyer Tax Credit. Thanks to Ann Arbor's own Missy Caulk for use of the fabulous chart!

The new bill increases the size of the existing temporary (and refundable) first-time home buyer credit to $8,000, up from $7,500. It will not be applicable for nonfirst time homebuyers, but it also removes the requirement under current law that the credit be paid back if the buyer stays in the home for at least three years. And it extends the credit's expiration date to Dec. 1, 2009, from July 1. Those eligible for this credit must have purchased a home after Jan. 1, 2009, and before Dec. 1, 2009.

First time homebuyers, search the Monmouth County MLS for your next home today!

Jo

JoAnna Siminerio
Weichert Realtors - Marlboro / Manalapan
JoSiminerio@optonline.net
www.JoTheRealtor.com