|
|
Stimulus Plan Feb 2009
First Time Homebuyer Tax Credit
downloadable .pdf
The Stimulus Plan was signed into law by President Obama. It contains a new tax credit for first-time homebuyers. Essentially, first-time homebuyers within certain income limits who purchase a home in 2010 before May 1, 2010 will receive a tax credit of up to $8,000. Buyers need to settle on the sale by June 30, 2010
To qualify as a first-time home buyer as defined in the programs, the purchaser (and the purchasers spouse) may not have owned a home in the three years prior to the purchase date of the home. Single family homes qualify for the program. The home must be the primary residence.
Additional information about the tax credit can be found on the websites of the National Association of Realtors (www.realtor.org) and the National Association of Home Builders (www.nahb.org).
|
 |
|
|
|
|
