Homebuyer's Tax Credit

There May NEVER Be a Better Time To Buy a Home!!

The opportunity of a lifetime is at hand – right now.

Plenty of homes are available at affordable prices. Interest rates remain historically low. And to sweeten the pot, there's a tax credit- up to $8,000 for qualified first-time buyers whose income is within IRS-established limits and up to $6,500 for most other homebuyers. This is money that never has to be repaid, provided you live in the home for three years.

• You are considered a first-time buyer if neither you nor your spouse has owned a principal residence in the U.S. within the last three years.

• Most other buyers are eligible for up to $6,500 if they have lived in their residence for five consecutive years of the last eight.

• You must sign a purchase contract no later than April 30, 2010, and close before July 1.

• You can claim the credit when you file your 2009 or 2010 tax return – or, if you’d rather not wait, file an amended 2008 or 2009 return and receive the money upon purchasing your home. There are also programs that will advance the money to help on your down payment.

• If you co-sign a mortgage to help your non-dependent child buy his or her first home, your eligibility does not affect your child’s ability to qualify for the credit.

We can’t provide every detail of the program here – and we’re not qualified to give you tax advice – but we can help you make sense of the regulations.

Don’t wait. Give us a call and we can help you decide whether now is the time for you to buy. And if the time is right, our team would be delighted to work for you as you seek out your dream home.