Two Dreams Come True in One!

You have most likely heard of the tax credit for first time homebuyers, but we want to shed some light on it and let you know what it is really all about. So we’ve put together a bulleted list of some of the major aspects and included a web address where you can obtain more information.


*Homes must be purchased by a first time homebuyer between April 9, 2008 and July 1, 2009
*The maximum credit is $7,500
*Single taxpayer with an income up to $75,000 and married couples with a combine income of up to $150,000 are eligible
*The credit is actually an interest fee government loan that must be repaid over a 15 year period *You can claim the tax credit on your federal income tax return
*The home must be your principal residence


You’re sure to have more questions, so we’ve found a great website that will help you out. It has general information as well as a frequently asked questions part. As always if we can help in anyway just let us know!

http://www.federalhousingtaxcredit.com/index.html