$8,000 Tax Credit Info

Do you have questions about the Tax Credit? I did too.

Many buyers clients were asking me. Here is the first answer: You have to purchase and close on a home by December 1, 2009!! Call me and let's look now if you read this information and think you qualify Sandy (704) 746-7513! 

In a nutshell, you have to buy your first home, it has to be owned for 3 years or you will owe the money back to the IRS, and you cannot have the money until after you close (when you use the form to claim it). So, no, you cannot use it for a down payment. You get money after you send in your form or owe less to the IRS! You can also get a credit for homes purchased in 2008 or 2009!

Here is the link to the IRS form http://www.irs.gov/pub/irs-pdf/f5405.pdf

Here is a run down summary by the IRS on the rules, guidelines, etc. along with a video and audio presentation http://www.irs.gov/newsroom/article/0,,id=204671,00.html  

Here is the FAQs page from the IRS for homes purchased in 2009  http://www.irs.gov/newsroom/article/0,,id=206293,00.html

Search Homes NOW http://www.sandyisyouragent.com