As part of the government to help the economy and give benefits to the buyers you have until November 30, 2009 to find & buy a home to receive your $8,000 tax credit or downpayment asistance.
What mean “First -time buyer” ? The buyer not have owned a residence during the three years prior the purchase.
To qualifies need to buy a home between January 01, 2009 and December 01, 2009. This help applied to primary residences and it could be Condos, townhouses, single family and co-ops. The credit is a equal to a maximum of 10% of the purchase price, up to $8,000.
THE BEST NEW is the Tax Credit NO need to repay if the buyer(he/she) occupie the home for three years or more. If the property is sold during the period of three year, the credit will be repay on the sale.
To read more value information regarding First time buyers tax credit go to: http://www.federalhousingtaxcredit.com/2009/index.html
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