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First-time homebuyers must close before 12/1/09 to be eligible for government tax credit

The President signed into law the American Recovery and Reinvestment Act of 2009. A major feature of this legislation provides for an $8,000 federal tax credit* for qualified first-time homebuyers.

Eligibility:

• First-time homebuyers defined as a buyer (and buyer's spouse) who has not owned a home in the past three years
• Income: Full amount of credit available for individuals with an adjusted gross income of no more than $75,000 ($150,000 on a joint return)
• Purchase of the home must close before December 1, 2009

And now, Fifth Third is topping this historic opportunity with a special .125% mortgage rate discount** that could save your customers thousands of dollars in interest when they buy a home. But this offer is only for a limited time, so they must act soon.

For information on the American Recovery and Reinvestment Act of 2009 tax credit, visit: www.ustreas.gov.

*Tax credit is $8,000 or 10% of the purchase price, whichever is less. If the home is sold within three years of purchase, the credit will be reversed. Consult a tax advisor for specific program details and tax advice.