Attention first-time homebuyers!
As part of the Stimulus bill just passed by Congress, if you buy a home this year, you are eligible for an $8,000 tax credit--which can even be advanced as a loan to help with settlement costs. Effective for purchases on or after January 1, 2009 and before December 1, 2009, here are the highlights:
--Maximum tax credit--$8000
--Reduces tax liability for the year of the purchase. Any unused amount of tax credit refunded to purchaser
--First-time homebuyers only (may not have owned a principal residence in 3 years prior to purchase)
--No repayment for purchases during this year
No comments:
Post a Comment