First-Time Homebuyers Tax Credit
An opportunity like this does not come around too often. With the recent signing of a major housing stimulus bill, it's now a great time to close on your first home. On July 30, 2008, the Housing and Economic Recovery Act of 2008* was passed, which includes a new, temporary tax credit as an incentive for first-time homebuyers. With this bill, first-time homebuyers may qualify for a tax credit of up to $7,500* for the purchase of a principal residence.
To obtain a better understanding of this opportunity, the CENTURY 21 team has compiled the following information:
-
The National Association of Realtors First-Time Homebuyer® Quick Reference Chart
-
The National Association of Realtors® Frequently Asked Questions
Contact A Real Estate Professional About The FIRST TIME HOME BUYER TAX CREDIT
Before you decide to use the first-time homebuyer tax credit, please remember to consult with a tax professional.
*Housing and Economic Recovery Act of 2008. Consult a tax professional for details. Credit expires June 30, 2009.