A Reason To Buy Now!

Hey guys just wanted to give you some info on the First Time Home Buyer Tax Credit. The program allows for buyer’s who haven’t owned a home for at least three years to take a credit against their 2009 tax return if they buy a house as their primary residence.

It is another great reason for your 1st time buyer prospects to Buy Now!

How the Tax Credit Works

This program ends July 1, 2009. The credit amount is 10 percent of the home price up to a maximum $7,500.

Income limits are $75,000 for individuals and $150,000 for households.

The credit must be paid back over 15 years, so it acts like a zero interest loan.

The National Association of Realtors is seeking to extend the end date, expand the credit to include ALL buyers, and have the repayment requirement eliminated.

I’ll keep you posted once that happens.

Click on the link below to get more details on How the Tax Credit Works.

How the Tax Credit Works

With best regards,

Chris Ha