$8,000 for Homebuyers
First Time Hombuyers can claim a credit worth $8,000 - 10% of the home’s value, whichever is less - on the 2009 taxes.
First Time Homebuyers are also buyers who have not owned a home within the last 3 yrs.
If you purchased a house in 2008 you can get $7,500. on your taxes, but this amount you have to pay back within 15 years, that is $500 a year, no interest. You also don’t have to use the whole $7500. If you sell your home, you have to pay the remaining amount back at your taxes, unless you have taken a loss on your home or break even.
Now in 2009 if you purchase a home between Jan. 1 and Nov. 30 2009 you will receive $8,000. back on your taxes. You do not have to pay this back unless you do not live in your house for at least three years. or you will be obligated to pay back the credit.
This is a great time to buy a home. Check with your tax person, contact your Realtor (me) and start looking for that first home.
Submitted by: Susan K. Forbes
Re/Max of Newton 641-791-2360 www.Susan@RealtorinNewtonIowa.com
(No Ratings Yet)
Loading ...
