Archive for Taxes
Mortgage Rates Hit Record Low
One day after the Federal Reserve announced it would be doubling the amount of mortgage debt it would be buying, mortgage rates fell to a record low at well under 5%. This is the lowest that mortgage rates have been in more than 40 years and this is the perfect time to fulfill [...]
New Home Buyers Claim Tax Credit on 2008 Taxes for 2009 Purchase!
The new stimulus package will allow new home buyers, defined as those who have not owned a home in the last three years, to take the maximum $8,000 tax credit off their 2008 taxes even though the purchased will take place in 2009. The tax credit is 10% of the purchase price with a [...]
Update: Tax credits for home buyers and homeowners
The bill now being considered offers first-time homebuyers a tax credit of up to $8,000 if they buy homes between Jan. 1 and Dec. 1, 2009. Those who haven’t owned a home in the last three years will qualify as first time buyers. Additionally, existing homeowners could get a tax credit of up [...]
$15,000 Cash for Buying a Home
Currently, the government is offering a $7500 tax rebate for first time home buyers when they buy a new home. This rebate is a interest free loan with repayment not starting for 5 years. Now, there are discussion of increasing this amount to $15,000 and doing away with the repayment. This is great information for [...]