A lot of buyers don't realize that they can qualify for the $6500 credit!
Ask yourself these questions:
Have I lived in my home in the last 5 consecutive years(out of a total of 8)?
Am I purchasing under an $800,000 home?
Do I make less than $125,000 single or $225,000 couple?
If the answer is yes to all of the above.....you might be getting a $6500 credit (Yes...credit...not deduction!!) ...
Here are some of the most frequently asked questions on the changes to the Home buyer Tax Credit. Additional details will be posted to this blog as they become available. Question: Existing homeowner credit: Must the new house cost more than the old house? Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify ...
This new Credit just approved is for first time home buyers in New York State. The funding for it is available from Sept 1st thru Novemeber 31st 2009. So what I'm trying to say is....first time home buyers you need to purchase a home NOW so that you can close by the dates above.
I only wish that I was a first time home buyer....the incentives have never been better, and along with ...
With this new change to the stimulus package, many more first time home buyers can actually close!! FHA has approved the use of the stimulus money at the closing table. First time home buyers that qualify would still need to come up with 3.5% of their own money, but this will help them with the closing costs. With appraisals being very cautious, this will help those that were ...