Don't forget to get your Tax Credit
January 30th, 2009 | 
Author: If you a re first-time home buyer, the enacted legislation providing a tax credit of as much as $7,500 for first-time home buyers might just be the opportunity of a lifetime.
- The tax credit is available for first-time home buyers or any homebuyers who have not owned a principal residence in the last three y ears.
- The maximum credit amount is $7,500 or 10% of cost of home to be claimed on the annual tax return.
- The credit is available for homes purchased on or after April 9, 2008 and before
July 1, 2009. - Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
- The tax credit works like an interest-free loan and must be repaid over a 15-year period.
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Posted in Buyer Resources, FAQ | 
Tags: first time home, First time home buyer, first time home buyers, interest free loan, tax credit, taxpayers
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