With the home buying tax credit set to expire April 30th, there’s no time to waste to find out if YOU qualify for this once-in-a-lifetime opportunity. From now through April 17th, Davidson Realty is holding Tax Credit Open Houses each Saturday where on-site experts will help you determine how much Tax Credit you may qualify for. Stop by on Saturday anytime between 10:00 am and 2:00 pm and we’ll explain the $8,000 tax credit for first time buyers and the $6,500 for current home owners; answer home buying questions; pre-qualify people for loans; and review area communities as well as individual homes.
The Worker, Homeownership, and Business Assistance Act of 2009 extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers. If you purchase a home by April 30, 2010 and close by June 30, 2010, you may qualify for one of the two available tax credits. The first-time homebuyer credit is for buyers who have not owned a home during the last 3 years. The other credit is for current homeowners who have used the home they are selling or vacating for 5 consecutive years within the last 8 years. The credit is 10% of the purchase price of the home up to $8,000 for first-time homebuyers and $6,500 for current homeowners.
There are two other considerations:
1. The home you purchase must be $800,000 or less.
2. If your income for a single person is up to $125,000 or $225,000 for married people filing jointly, you will qualify for the full credit.
In addition to complimentary counseling at the Davidson Realty Tax Credit Open Houses, we also offer a free Homebuying Kit that comes complete with:
* Timeline for Buying a Home
* Resource Contact List
* Terminology Guide
* Mortgage Programs
* Sample Payment Options
* Community Overviews
Now’s your chance. Stop by the Davidson Realty office during our Tax Credit Open Houses any Saturday through April 17th and learn more.
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Comment by Taxes Jacksonville — March 12, 2010 @ 7:49 am