Kentucky Home Buyer Tax Credit - KHC Home Buyer Tax Credit
Kentucky Home Buyer Tax Credit
For some time, new Kentucky home buyers have not been aware that there still is a program available to give them a tax credit. The KHC Home Buyer Tax Credit is just the thing they need to see great savings on their yearly IRS tax returns.
KHC Home Buyer Tax Credit is available through Mortgage Credit Certificates (MCC), which reduce the amount of federal income tax you pay, giving you more available income to qualify for a mortgage loan. MCCs are NOT mortgages. They are tax credits that put extra cash in your pocket each month, so you can more easily afford a house payment. That means fewer tax dollars will be withheld from your regular paycheck, increasing your take-home pay.
The federal government allows every homeowner an income tax deduction for all the interest paid each year on a mortgage loan.
But an MCC gives you a tax credit of 25 percent (not to exceed $2,000).
You can still deduct the remaining 75 percent interest on your income taxes.
A tax credit is not the same as a tax deduction. A tax deduction reduces the portion of your income that is taxed, so you pay less.
A tax credit is a direct, dollar for dollar reduction in the total tax you owe.
The MCC is effective for the life of the loan as long as you live in the home. If you sell your home in the first nine years of ownership, you may be subject to Federal Recapture Tax.
You may qualify for the KHC Home Buyer Tax Credit program if:
Maximum home sales price is $243,000.
Maximum income limits:
1-2 person household : Up to $83,400
3-4 person household : Up to $97,300
You must meet lender, KHC, FHA, VA, RHS, Fannie Mae, and/or Freddie Mac standards for creditworthiness. You must occupy the property.
It cannot be used for business, commercial, or rental purposes.
Applicants need a sales contract with a legal description of the property, a $500 MCC fee, and copies of federal income tax returns for the past three years.
Applications for KHC Home Buyer Tax Credit are accepted on a first-come, first-served basis by a statewide network of local lenders. MCCs are available with FHA, VA, RHS, Fannie Mae, and Freddie Mac Conventional 30-year mortgages at a fixed-rate. MCCs cannot be used with KHC’s Mortgage Revenue Bond program, but may be used with KHC’s GNMA Secondary Market Program. Your local lender will submit your loan application and notify you as to whether your application has been accepted.
With an MCC from KHC, you will get direct dollar-for-dollar reduction in your federal taxes worth 25 percent of the interest you pay on your mortgage each year. You can still claim the remaining 75 percent of the interest as a tax deduction.
Check in With Amy Heiden of Century Mortgage to find out more about the KHC Homebuyer Tax Credit.
Finding a new Kentucky home has never been so easy!
Just click on the links below.
Lexington KY Residential Homes For Sale
Lizette Fitzpatrick - Principal Broker at Lizette Realty.
For more information on Lexington or Richmond KY homes for sale. click on Lizette.us.
Copyright © 2012 By Lizette Fitzpatrick, All Rights Reserved
Kentucky Home Buyer Tax Credit - KHC Home Buyer Tax Credit
3408 Alpine Ct Lexington KY - Home For Sale
Cozy, well located 1/2 duplex on a cul-de-sac. 2 bed, 1.5 bath, new laminate floors,wood burning fireplace in great room that is wired for flat screen TV, all appliances stay, w/d, landscaped, tall tree shaded backyard completely private wood fence. Off street parking. Close to everything. $92,000
REQUEST A KENTUCKY RELOCATION PACKET!
Finding a new Kentucky home has never been so easy!
Just click on the links below.
Lexington KY Residential Homes For Sale
Lizette Fitzpatrick - Principal Broker at Lizette Realty.
For more information on Lexington or Richmond KY homes for sale. click on Lizette.us.
Copyright © 2012 By Lizette Fitzpatrick, All Rights Reserved
3408 Alpine Ct Lexington KY - 40517 - Home For Sale
197 General Cleburne Dr Richmond KY 40475 - House For Sale - Golf Community
Live the good life in a golf community in Battlefield Place. Beautiful 2 story with 3 bedrooms, master suite on 1st floor, 2.5 baths, kitchen w/ all appliances, Living Room w/ gas fireplace, 2 car garage, nice deck and front porch, landscaped on a corner lot. Well maintained Golfer's dream home! $160,000
REQUEST A KENTUCKY RELOCATION PACKET!
Finding a new Kentucky home has never been so easy!
Just click on the links below.
Lexington KY Residential Homes For Sale
Lizette Fitzpatrick - Principal Broker at Lizette Realty.
For more information on Lexington or Richmond KY homes for sale. click on Lizette.us.
Copyright © 2012 By Lizette Fitzpatrick, All Rights Reserved
197 General Cleburne Dr Richmond KY 40475 - House For Sale - Battlefield Place - Golf Community
1003 Robin Way Richmond KY 40475 - Home For Sale
$174,900
Argyll Subdivision
In the city w/ trees & a beautiful creek in back. 3 Bedrooms, 3 Full Baths, Cherry Kitchen w/Black Appliances, REC Rm, Security System, Utility Rm,Double Decks, Finished Walkout Basement,Large Double Garage,Open Floor-plan w/Cathedral Ceiling. Very Clean & well maintained. New Carpet. Relax & enjoy the sound of your own creek in town.
REQUEST A KENTUCKY RELOCATION PACKET!
Finding a new Kentucky home has never been so easy!
Just click on the links below.
Lexington KY Residential Homes For Sale
Lizette Fitzpatrick - Principal Broker at Lizette Realty.
For more information on Lexington or Richmond KY homes for sale. click on Lizette.us.
Copyright © 2012 By Lizette Fitzpatrick, All Rights Reserved
1003 Robin Way Richmond KY 40475 - Home For Sale
The Moron Brothers on the Kentucky River
REQUEST A KENTUCKY RELOCATION PACKET!
Finding a new Kentucky home has never been so easy!
Just click on the link below.
Lexington KY Residential Homes For Sale
Lizette Fitzpatrick - Principal Broker at Lizette Realty.
For more information on Lexington or Richmond KY homes for sale. click on Lizette.us.
Copyright © 2012 By Lizette Fitzpatrick, All Rights Reserved
Kentucky River - The Moron Brothers - Come Sit A Spell And Take A Ride Down The River!
 |
|
|
Lexington KY Principal Broker/Realtor, Lizette Realty, Kentucky Horse Farms, Relocation to Kentucky, Lexington and Richmond KY Real Estate, Lexington KY Homes for sale, vacant land and farms
As a Principal Broker at Lizette Realty,
I assist clients in locating horse farms, investment properties such as duplex and apartment buildings, commercial buildings, new construction and single family residential homes.
Living on a Kentucky horse farm may be your dream, but I can make it your reality.
Lexington Kentucky is the Horse Capital of the World.
Another area that I specialize in is Madison County, south of Lexington in the city of Richmond. It's a beautiful town rich with history and is growing rapidly with new residents and industry. Richmond is only a 20 minute drive from Lexington.
If you are interested in relocating in our area, please let me know and I can send you a welcome box filled with Central Kentucky information, news, events and more!
I am a member of LBAR (Central Kentucky) AND MCBR (Madison County) that are 2 MLS boards for listings and research. I have worked full-time in real estate for 8 years.
Each week, I publish the only online email newsletter, "I LOVE KENTUCKY NEWS" for Central Kentucky on the latest hot listings, what has sold and for how much, local events, homeowner tips, buyer and seller advice, pet services, relocation information and most important of all... FUN!
Getting to know Lizette through her newsletter, convinced us that she was the right Realtor for us. We continue to read "I Love Kentucky News" each week. The newsletter always gives us ideas on local events to attend or new places to try.
Often when "I Love Kentucky News" comes out, my husband and I start discussing ideas in there that very afternoon. Some of our best weekend adventures have come from it as we found out about festivals, events and places to go. We can also always count on creative ideas for home improvement projects.
Rose & Daniel Zukley
Richmond, KY
~~~~~~~~~~~~~~~~~~~~~~~~
Educational...Informative...Interesting...Historical...Humorous...Pictorial....PERFECT! That's Lizette's I Love Kentucky News.
We have been readers for about 8 months and enjoy the news each week. Being transplants to the Commonwealth of Kentucky, we enjoy learning about all the wonderful culture and beauty of this state. Lizette certainly has an eye for that. Sometimes for the quirky and unusual too, which is fun to read about. She takes nice photos too! And it sure is a lot more fun than the evening news! Thanks Lizette, and all the best in 2009. We'll continue to explore Kentucky with you every week.
Dave & Cindy
Richmond, KY
Sign up for your newsletter today on the right hand side of my blog.
Want to advertise your business in my newsletter so thousands of readers will know you? Email me for more information.
If you have any questions about the processes of buying or selling a home or if you need assistance in finding the perfect property please give me a call.
Lexington Kentucky Horse Farms, Residential Homes, Lexington Condos and Lofts,
Investment Properties, Pet Friendly Properties, Relocation Specialists,
Horse Farms all over Central Kentucky
(We do not work with rentals or lease options.)
Career opportunities available for licensed full-time Kentucky REALTORS
call 859-979-2834 or email.
My husband relocated jobs over 3 hours away. His relocation company contacted 2 real estate agents for us to choose from to try and sell our house. Lizette took over an hour explaining how much square footage averaged, how homes around our subdivision compared to ours in their selling prices, and how our home would appear on numerous web sites. The choice between the two could not have been more obvious.
Though the housing market has been flooded, our home never went more than a week without someone looking, and in fact our buyer turned out to be someone from California. I credit Lizette's web sites for the sale of our home and the reuniting of our family together again.
We still marvel at all the homes for sale, while ours proudly hosts a "SOLD" sign in the front. The work that she performed for us, while our house was not the most expensive on the market, made us certainly feel like we were elite clients of hers. I cannot thank her enough!
The Metcalfe Family
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"Very seldom does an individual not only meet, but exceed every expectation in their line of work. I've worked with Lizette in the past and I have no reservation in saying that I would highly recommend her. She is highly motivated in assisting others in meeting their goals; great work ethic, focused, will find a solution to any problem - all with a wonderful down-to-earth persona that will make any business partnership with her a can't-miss opportunity."
Andy Limbaugh
St. Louis, MO
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Newlyweds for 6 weeks, Daniel and I were living in one bedroom apartment in Lexington. I was settling into Kentucky after a move from North Carolina and was just about to start job hunting.
After chatting about houses and casually looking on the Internet, we left a voice mail for Lizette introducing ourselves. Since about June, Daniel had been sending me her weekly e-mail newsletters. I felt like I had gotten to know her through these e-mails. We went on-line to our bank and received pre-certification for our mortgage. We now just needed to find a house.
Lizette called back and we decided to meet to look at two houses in Richmond. While they were not right, they were a good place to start. Later, we looked at a few more houses while Daniel was at work. We found it! It was so cute and just right. We wanted to make an offer and Lizette walked us through the process. We crossed our fingers, waited... then the offer was accepted!
Next were calls to the bank, home insurance, inspections, a final walk-through, packing and scheduling movers. Through it all, there was Lizette. She stayed in touch with the seller, coordinated the inspections, monitored the completion of the repair list, provided us a list of contacts and ensured the closing went smoothly.
And the next thing we knew, we were closing on the house. The smooth, painless process would not have been possible without Lizette. She made our first time purchasing a house, easy. While we hope to stay here for a while, there is no doubt in our mind that when it comes time to sell our house, we will be contacting Lizette. She stayed on top of the whole process while also ensuring all of the details were completed.
In the mean time, several things have happened: we bought our first house (and LOVE it) and I made my first friend in Kentucky.
Daniel & Rose Zukley
Richmond, KY
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Buying a new home can be quite a difficult task; at least, that's what I've always been told. My first trip to Richmond, KY was for a job interview that went great in more ways than I realized at the time.
Not only did I get offered the job, but handed to me from a future co-worker was business card for a Lizette Fitzpatrick. Included in that exchange was a word of advice, "...if you're thinking about buying a home, go with Lizette."
Well, I was thinking about buying a home & just wasn't sure where to start as it was something I never experienced before. Lizette was informative, very friendly, & being that this is my first ever home buying experience, gave me much needed advice to get me going in the right direction.
From St. Louis, I was able to start looking at homes in the Richmond / Lexington area, as I was now being included in Lizette's great weekly newsletters, via e-mail. In the newsletters contained links to view homes with pictures, prices, footage, age of the home, etc. Basically, everything you would want to know about a house before even stepping a foot inside one.
When I arrived to Richmond, I met with Lizette; she took me around Richmond to see the homes I picked out & a few more that she had picked out as well.
Well, wouldn't you know it; the house I really wanted to get wasn't even one that I had picked out! Lizette showed me a beautiful home right in the heart of downtown Richmond.
I really couldn't let this one go buy (no pun intended), so I made an offer that very day. The seller agreed to my offer, & the rest is history; I am now the proud owner of a home! Lizette was there every step of the way for me & the whole Lizette Realty team couldn't have been any nicer. I know I got really spoiled being that this is my first home buying experience; I'm not sure if I'll ever get it this good again. Lizette Fitzpatrick is a dedicated, professional & friendly person who also happens to be a Realtor/Broker!
Rob & Lindsay
Richmond, KY
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"Lizette worked as a real estate agent for my wife and I. She did great work for us and I always mention her name when I talk to people about real estate. She is very energetic, knowledgeable, professional and effecient. She is the type of person that could be successful at anything she puts her mind to."
Dan Jordan
Richmond, KY
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I have found that the key to finding our perfect house was a competent, alert and patient Realtor. Lizette and I were in constant communication in the last days of our home search. The day we found the house I was wandering around Lexington, checking out neighborhoods. Lizette noticed that a house had come on the market that day in our price range and gave me the address. I drove by, decided it was a good house and called her back to set up a showing. We walked through the house within the hour and I immediately knew I was ready to make an offer. I'm a feng shui consultant, and my home requirements were very demanding. Many Realtors have fallen by the wayside, but Lizette was determined that I would find the perfect house. Thanks Lizette. You're a peach.
Monica & Dan
Lexington, KY
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
My husband is career Army and we have spent many years traveling and renting. We decided it was time to purchase a home of our own and to plan for our retirement.
We are a family of horse lovers and so it was not hard to pinpoint our retirement location around the horse capital of the world, Lexington. We scoured the internet daily and came across the Activerain Real Estate Network . We read about each real estate agent listed on the site. Lizette's reviews were excellent so we thought we would contact the best. We called her and set up a date to come to Lexington to find our home.
We told Lizette exactly what we were looking for. When we arrived she had an itinerary put together that showed us what we were interested in and did not waste our time on homes that did not fit our needs.
On the second day of our search Lizette took us to our dream home. We knew right away that this was where we wanted to be. It only took two days. I was shocked at how fast and painless the whole process was.
We feel like we have known Lizette for a long time. She will not only be our real estate agent for any future needs we may have but will be a true friend forever. Thank you Lizette.
Tom, Peggy and Griffin Drasal
Richmond, Ky
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Becoming home owners was something my boyfriend Clay and I always thought would come much later in our lives. We were sure that we would have to wait forever to have "all our ducks in a row" to even starting looking for a home.
After meeting Lizette by chance at an open house holiday function then again at Clay's business, For the Love of Dogs Bakery, we knew that Lizette was who we would call when we started looking for a home.
Lizette was so excited when we called and let her know that we were ready to start searching for a home. Our budget wasn't very big but she reminded us several times that we would find something we really liked, that we just needed to have patience.
We expected the process to take about 6 months but we closed in less than 4 months after finding a great home with a big back yard for our chocolate lab Chloe.
Not only is Lizette a great real-estate agent but she is also a good friend who was truthful and honest throughout the entire process of buying a home. She was always quick to write us and e-mail or call us on the phone when we had any questions. I don't think I could have asked for a better experience in buying a home.
Karen Thames & Clay
Lexington, KY
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Lizette made buying a new home very easy, From the moment we called her she did not stop till she found just the right house for us. That day we did not only find a great Home we found great Realtor and a good friend. I would tell anyone that was looking to buy or sell a home to call Lizette.
Bill and Sue Baker
Richmond, Ky.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I have to say my experience of buying my house was phenomenal! I spent a few months just looking on my own and talking with a few (actually quite a few!) different agents. I was starting to get very frustrated. The problem was none of the agents were very motivated to help me find what I was looking for. Most were very nonchalant and uninterested in my business! I am a professional and want to also work with professionals.I happen to come upon Lizette by calling on one of the homes she had listed.Within moments she understood what I was looking for and brought encouragement and excitement that I would find it. We spent a few days with each other and within two weeks walked into what is now my home! She knew me so well in such a small amount of time that when we walked in the house not only did my heart skip a beat hers did as well!
THANKS LIZETTE!!
TERESA K. KELLEY
Lancaster, KY
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Lizette,
I have been meaning to write you for weeks to thank you for everything you have done in helping us purchase Tessa's new "home away from home." We have never had a Realtor that we became attached to, as we did you, or that had the personal touch that you do. You made it so easy. Thank you for all the references for home owners insurance and all the information regarding transferring the utilities, having the house inspected and on and on. It would have been hard for me to do this from another state without you.
Thank you for EVERYTHING!
Betty and Tessa Raney
Indianapolis, IN
Richmond, KY
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
When my husband and I decided to search for a larger home for our family we worried about how we'd find the time. We'd never sold a home before and searching for the right one to buy can be time consuming. Lizette made it easy. She found us the perfect home in the school district we wanted within weeks and sold our house for close to our asking price in just a month and a half! She took the stress out of the entire process.
Michele Hill
Executive Producer WKYT-TV
Lexington, KY
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
When my family had to relocate to Richmond, we began to search for a new home for our family. We wanted a home close to work and school, but far enough away from town to enjoy a bit of the countryside. Lizette very patiently showed us homes until we decided that building a new home would better suit our situation. Lizette guided us through the process of building a home without any added stress. The whole entire process was very well organized and made to fit our hectic schedules. If you are expecting a high sales pitch, you won't receive that type of treatment from Lizette. Why, Lizette even offered the use of her garage for our moving sale!
Lizette isn't just a Realtor; she is our friend.
Amanda and Ronnie Basham
Richmond, KY
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I relocated from Las Vegas and I liked the idea that Lizette was extremely knowledgeable of the central Kentucky area. She wasn't pushy and was genuinely interested in finding the perfect house for me. My experience with Lizette was enjoyable & effortless.
I gained a dreamhome and a good friend.
I highly recommend that you trust her to sell your home or find your next one!
Nancy Chambers
Richmond, KY
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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
