This tax credit must be repaid.the repayment period is 15years unless the home is resold before the end of that period,and there is no interest on the amount of the credit that is received.Repayment of the credit begins 2years after the credit claimed

Matthew Nguyen
J&D Triad, Realtors LLC



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$8000 First Time Homebuyer Tax Credit !!!!!

 

Guidelines:

- $8000 Tax Credit up to 10% of Purchase Price of Principle Residence from January 1, 2009 to April 31, 2010

- Cannot Have Owned A Home In the Past 3 Years.

- Income Limits To Qualify:

       - Single Person Making Up to $75,000 (phase out to $95,000)

      - Married Couple Making Up To $150,000 (phase out to $170,000)

- Does NOT have to be Repaid

- Home Can Be Single Family, Townhomes, And Condos

- Credit is Claimed on Your Federal Income Tax Return.

 

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