Buyer Tips
$8000 Home Buyer Tax Credit
If you are a first time home buyer or if you have not owned a home for three years, you may qualify for the $8000 tax credit. If your income is $75,000 or less for single person or $150,000 per couple you would qualify for the entire $8000. It is prorated after that. Also, this credit can be used in conjunction with first time home buyers down payment assistance programs. This can mean a dramatic savings for you as buyers. If you owe $1000 for taxes, you will get the reamaining $7000 as a refund and none of the $8000 has to be paid back as long as you live in the home for three years. This credit is good on homes purchased anytime between Jan. 1, 2009 and Nov. 30, 2009. Call LuAnn with any questions.