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Up to $8,000 to first-time homebuyers
The 2009 stimulus plan has some great things for first-time homebuyers who qualify. If you purchase a home in 2009 before December 1 2009, you can receive a tax credit of 10% of the purchase price (up to $8,000). Homebuyers can claim the credit on their income taxes and receive money back in excess of the taxes. If you have already filed taxes this year you can file an amended return and still get the money. No repayment required if you live in the home 3 years.
If you purchased a home last year and you qualify as a first time buyer you can also receive a tax credit of 10% of the purchase price. ($7,500 maximum) This program requires this tax credit be repaid but over the next 15 years with 0 interest. This will be handled with your tax return each year for the next 15 years. Again, an amended tax return will get you the money if you qualify and have already filed.
How to Qualify:
· First time home buyer- Purchaser and spouse must not have owned a home for three years.
· The home must be the purchaser’s primary residence. Only single family homes qualify.
· Full credit will be issued to individuals with an adjusted gross income of no more than $75,000 or ($150,000 on a joint return). For earnings above $75,000 a prorated return is offered up to $95,000 income cap. ($170,000 on a joint return)
If you know someone who is ready to buy or sell a home our, Texas market is doing well. Please allow us to assist them and we always remember our referral clients with a gift when we close.
From the heart,
BJ & Steve Sloan
Sloan & Sloan Realty
Web: sloanandsloanproperties.com E-mail: bjsloan@sbcglobal.net Telephone: (817) 485-2262
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