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Home Buyers Tax Credit for 2009

There has been a lot of information in the news lately about the Home Buyer’s Tax Credit. There has also been a lot of information. Here are the basics of it:

• The tax credit is for first-time home buyers only.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
• The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

For prospective home buyers this means that if you buy a home this year you are going to get $8000 to help replenish your savings after making a down payment, or $8000 for home improvements (especially energy improvements which are also tax decuctible, more on that later), or $8000 for whatever else you decide you want to use it for.

This is an incredible incentive the government is making to stimulate the housing market, contact me to start looking for your first home today!

To see all the details please visit: http://www.federalhousingtaxcredit.com/