FREE $8000 From the Government
The Federal Government is giving away FREE money to first time home buyers. Uncle Sam is paying you to buy a home! Golden Realty has represented buyers who have closed on the purchase of their new home, filed the proper paperwork, and within weeks - an $8000 check arrived in their mailbox. Unfortunately, many consumers are still confused and misinformed about this incentive and time is running out. This tax break ends in 2009. Buyers would be foolish to not take advantage of this Golden opportunity!
FAQ’s
Am I Eligible?
If you are a First-time home buyer - a buyer who has not owned a principal residence during the three-year period prior to the purchase - purchasing a home on April 9, 2008 and before December 1, 2009…you are eligible for the tax credit.
How Big Is the Tax Credit?
The tax credit is equal to 10% of the purchase price of the home up to $8000.
Are There Any Income Limits?
To receive the maximum amount of the credit the income limit for single taxpayers is $75,000; the limit for married taxpayers is $150,000.
How Does it Work?
The tax credit will directly reduce the total amount of taxes you owe or increase the size of your refund.
Will I Have to Repay the Credit?
Only if you sell your home with in 3 years of the purchase, then the entire amount of the credit is recaptured.
~If you have more specific questions about the tax implications of the credit, please consult a tax professional. ~
~ If you have more specific questions about homeownership, please consult the experts at Golden Realty ~