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Sunday, August 23, 2009
Thursday, August 20, 2009
Federal First Time Home Buyer Tax Credit
First Time Home Buyers hoping to take advantage of the $8,000 tax credit will need to purchase their home prior to December 1, 2009. Meaning....if you haven't started looking, you need to start, NOW. Well priced properties and foreclosures are moving at lightening speed and in a lot of cases are in multiple offer situations.
The tax credit is available on primary residences, including single family homes, condos and townhomes. The credit is equal to 10% of the purchase price, up to $8,000 for individual taxpayers with an income up to $75,000 ($150,000 for married couples filing jointly). The credit begins to phase out for individual taxpayers with an income over $75,000 up to $95,000; joint filers' tax credit will phase out at $150,000 up to $170,000.
To qualify as a "first time home buyer" the purchaser nor his/her spouse can have owned a home in the three years prior to the purchase of a qualifying residence. The credit is given on the purchaser tax return by filing Form 5405.
Ready to get qualified? Contact me today to get in touch with a lender.
The tax credit is available on primary residences, including single family homes, condos and townhomes. The credit is equal to 10% of the purchase price, up to $8,000 for individual taxpayers with an income up to $75,000 ($150,000 for married couples filing jointly). The credit begins to phase out for individual taxpayers with an income over $75,000 up to $95,000; joint filers' tax credit will phase out at $150,000 up to $170,000.
To qualify as a "first time home buyer" the purchaser nor his/her spouse can have owned a home in the three years prior to the purchase of a qualifying residence. The credit is given on the purchaser tax return by filing Form 5405.
Ready to get qualified? Contact me today to get in touch with a lender.
Monday, August 10, 2009
Christan Ross, Atlanta's Real Estate Maven
Welcome to my new blog. Please check back often as I will be posting regular updates.
Sincerely,
Christan Ross
Sincerely,
Christan Ross
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