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Can you get the 8000 first time home buyers tax credit when you use a VA loan?
Wiki User
∙ 14y ago
I was also wondering the same thing. As far as I gathered it's only good for a FHA loan which is crap to us Veterans who don't need a down payment. i just started to try and get pre-approved for both the see which way i would come out better. Hope this helped. Sgt. Corey Klingman www.AuPREMEX.com
Wiki User
∙ 14y ago
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What are the important details on 8000 tax credit for first time home buyers?
Some important facts of $8,000 tax credit for first time home buyers are: # It is a true tax credit to home buyers, not a loan as initially devised. # It is only for "first time" home buyers who haven't owned real estate in the last 3 years. # It is capped at 10% of the purchase price. # The buyer must remain in the home for the minimum of 3 years. # It is applicable for first time buyers that buy or have bought between 1/1/2009 and 12/1/2009. # Full credit is available to those making $75,000 or less or $150,000 for joint filers.
What is first time home buyers credit?
First time home buyer's credit will not prevent you from getting a home loan. This credit is intended to help first time home buyers. You can check with your lending company to get more information.
Is there a first time home buyers credit?
You can find information regarding first time home buyers credit at the following website...www.irs.gov/newsroom/article/0,,id=186831,00.html or www.zillow.com/.../is-first-time-homebuyer...credit.../436914/
When do you have pay back 8000 tax credit for first time home buyers?
You are supposed to pay the credit back on the income tax return in the year that the home ceases to be your principal residence within the 36 months period from the date of the purchase of the home. The full amount of the credit received becomes due on the return for the year that the home ceased being your principal residence.
Do first time house buyers still get a tax credit from the government on their federal income tax return?
First time house buyers do still get a tax credit from the government on their federal income tax return. This is a very nice tax credit that helps thousands of new home buyers every year.
Are there rebates available for first time home buyers?
There is currently an $8000 tax credit to those who purchased a new house in 2009. However, this tax credit only applies to new home buyers, previous home buyers will not qualify for this credit.
Is there a tax credit for first time home buyers?
Yes. There is a first-time home buyer credit of up to $8000 until 4/30/2010.
Do you have to claim the 8000 first time home buyers tax credit as income on your next tax filing?
No.
What are the important details on 8000 tax credit for first time home buyers?
Some important facts of $8,000 tax credit for first time home buyers are: # It is a true tax credit to home buyers, not a loan as initially devised. # It is only for "first time" home buyers who haven't owned real estate in the last 3 years. # It is capped at 10% of the purchase price. # The buyer must remain in the home for the minimum of 3 years. # It is applicable for first time buyers that buy or have bought between 1/1/2009 and 12/1/2009. # Full credit is available to those making $75,000 or less or $150,000 for joint filers.
What is first time home buyers credit?
First time home buyer's credit will not prevent you from getting a home loan. This credit is intended to help first time home buyers. You can check with your lending company to get more information.
I lost My sectoin 8 Voucher. Is there Income based housing waiting lists?
There is an $8000 first time home buyers credit that is available. It expires in November but will likely get renewed. Contact a realtor for more information on how to take advantage of this credit.
Is there a first time home buyers credit?
You can find information regarding first time home buyers credit at the following website...www.irs.gov/newsroom/article/0,,id=186831,00.html or www.zillow.com/.../is-first-time-homebuyer...credit.../436914/
What is the amount of the first time home credit for a first time home buyer?
First time home buyers get a $8,000 tax credit for a home contract signed by April 30, 2010 (completed no later than June 30, 2010). Repeat buyers get a $6,500 tax credit.
What is the deadline to apply for 8000 tax credit for first time home buyers credit?
To qualify for the credit you have to purchase your home between January 1, 2009 and April 30th, 2010. You can still qualify for the credit if you purchase your home after April 30th but before June 30th, 2010 as long as you have a legal contract binding you to the sale before April 30th, 2010.
When do you have pay back 8000 tax credit for first time home buyers?
You are supposed to pay the credit back on the income tax return in the year that the home ceases to be your principal residence within the 36 months period from the date of the purchase of the home. The full amount of the credit received becomes due on the return for the year that the home ceased being your principal residence.
What is the status of an extension on first home buyers stimulus that ends Dec 1 2009?
It has been extended and expanded.You can find more information here: http://www.fhamortgagesdoneright.com/category/8000-first-time-homebuyer-tax-credit-updates/
Is there still a tax credit available to first time home buyers?
Yes. The first time home buyers tax credit has been extended through May 1, 2010. According to irs.gov if a home is under contract by May 1, 2010 and closed on by July 1, 2010 the first time buyer will receive an $8,000 tax credit.
