Just a quick reminder, if you are a first time home buyer or have not owned a home in 3 years, you have until April 30th to get a home under contract to get up to $8000 from the government. You do not have to close on the home until June.
Entries Tagged as 'Taxes'
New Home Buyers Downsizing and Going Green in Recession
February 2nd, 2010 · No Comments · Economy, Taxes
For the first time since 1982, the square footage of completed new homes fell from an average 2,520 square feet to 2,480 square feet in 2009, according to the National Association of Home Builders. Smaller homes have been a trend for many years (fewer bedrooms and bathrooms) but the recession has accelerated that trend. And [...]
Tags:downsizing·Economy·first time homebuyers·first time homebuyers tax credit·going green·recession·smaller home sizes·Tax credit
$8,000 Tax Credit Now Available at Closing for FHA Loans
June 9th, 2009 · 1 Comment · Real Estate, Taxes
The Federal Housing Administration (FHA) will now allow the maximum $8,000 tax credit to be applied at closing for qualified home buyers. Additionally, FHA will now allow those home buyers to use the credit to make a larger down payment (FHA still requires 3.5%), cover closing costs or to buy down their interest rate. This [...]
Tags:$8000 tax credit·closing costs·down payment·home buyers·Real Estate
Mortgage Rates Hit Record Low
March 22nd, 2009 · No Comments · Economy, Taxes
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 the American [...]
Tags:Interest rates·Tax credit
New Home Buyers Claim Tax Credit on 2008 Taxes for 2009 Purchase!
February 24th, 2009 · 3 Comments · Real Estate, Taxes, Tips
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 maximum [...]
Update: Tax credits for home buyers and homeowners
February 12th, 2009 · 4 Comments · Green, Real Estate, Taxes
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 to $1,500 [...]
