Don't Miss Your
$8,000.00 Opportunity!
- If you are planning to buy your first home, there has truly never been a better time! As
a first-time home buyer you may qualify for up to an $8,000.00 tax credit.
- Who is eligible for the tax credit?
- First-time home buyers purchasing any kind of home....new or used....are eligible for
the tax credit. To qualify for the credit, a home purchase must occur on or after January
1, 2009 and before December 1, 2009.
- How is the amount of the tax credit determined?
- The tax credit is equal to 10 percent of the home's purchase price....up to a maximum of
$8,000.00!
- Are there any income limits for claiming the tax credit?
- Yes. The income for single taxpayers is $75,000. The limit for married taxpayers filing
a joint return is $150,000.
- How do I claim the tax credit?
- Participating in the tax credit program is easy. You claim the tax credit on you federal
income tax return. Home buyers should complete IRS Form 5405 to determine their tax credit
amount. However, you will want to make sure that you qualify for the credit under the
income limits and first-time home buyer tests.
- What type of homes will qualify for the tax credit.
- Any home that will be used as a principal residence will qualify for the credit.
Manufactured and mobile homes, condos and single family homes.
- Why was the tax credit made possible?
- In its effort to stimulate the economy and revive the housing market, Congress has
enacted legislation providing this tax credit of up to $8,000 for first-time buyers.
- Don't forget, the tax credit is a limited opportunity.
Opportunity does not always knock twice! Qualified buyers must buy a home between January
1, 2009 and before December 1, 2009.
- Please call 423-760-4819 for information on homes for
sale at Mountain View Estates.