FEATURE 2008 2009 Definition of a First Time Home Buyer Buyer and Buyers Spouce may not have owned a principal residence for 3 years prior to purchase. No Change Amount of Tax Credit 10% of the Purchase price or $7,500 whichever is less. Maxium Credit amount increased to $8,000. True Credit or Repayment The credit …
Tag Archive: First Time Home Buyer
Nov
03
$7,500 First Time Home Buyer Credit for Buying Cedar City Real Estate
First time home owners (anyone who hasn’t owned a home in the last 3 years) are entitled to a $7,500 tax credit if you purchase from now until July 1, 2009. The federal government signed this bill into law recently. If you are considering purchasing a home be sure to contact your accountant for details. You …