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How would a person find out if they qualify for the First Time Home Buyer Tax Credit?
Wiki User
∙ 11y ago
In a span of three years mainly, from 2008 to 2010, a person may qualify for the First Time Home Buyer Credit if they had bought primary residence from that year.
Wiki User
∙ 11y ago
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Does a land contract qualify a first time home buyer for the new tax credit?
Does a land contract qualify a first time home buyer for the new tax credit?
How do you know if you qualify for the first time buyer tax credit 2010?
There are some restrictions. Examples: Dependents aren't allowed to claim credit, NO credit if home is price is above $800,000, and you must be at least 18.
Can you qualify for the 8000 first time home buyer tax credit if buying a duplex as a principle residence?
I would love to know the answer to this question! I find conflicting data everywhere.
If there are 2 purchasers on a home and only one is a first time home buyer can first time buyer get first time home buyer tax credit?
Yes
What companies offer mortgages to a first time home buyer that has bad credit?
Finding a company that offers mortgages to a first time home buyer that has bad credit is not an easy task. Mortgagedigger, govhomeloans and operationhope are companies that offer mortgages to a first time home buyer that has bad credit.
Does a land contract qualify a first time home buyer for the new tax credit?
Does a land contract qualify a first time home buyer for the new tax credit?
I am planning to sell a home and I am financing the purchase. The buyer seems to meet the requirement for a first time home buyer tax credit but I can't find out if owner financing will qualify. I would prefer to make the sale with a quit claim deed ?
As long as the deed will be in the buyer's name they will quailify for the credit. The credit is for anyone purchasing a home (for the first time. There isn't a financing requirement. So in theory if someone wanted to buy a home outright with all of their own funds, then they would still qualify for the credit. However, if the person is still unsure, they should check with their tax professional. In fact, I would put a stiuplation in the contract and/or mortgage that you are not guaranteeing that they will qualify for the first time home buyer tax credit. Because if for so reason they don't, you don't want them coming after you for the credit.
Do you qualify for first time home buyer if you bought from parents?
No you cannot take the credit when you buy your home from a close relative. This includes your parents.
How do you know if you qualify for the first time buyer tax credit 2010?
There are some restrictions. Examples: Dependents aren't allowed to claim credit, NO credit if home is price is above $800,000, and you must be at least 18.
Buyer qualify for 8000 tax credit on a contract for deed?
Yes, according to posts at this website: http://www.cincinnatilivingonline.com/2009/02/2009-first-time-homebuyer-tax-credit-2.html
Can you qualify for the 8000 first time home buyer tax credit if buying a duplex as a principle residence?
I would love to know the answer to this question! I find conflicting data everywhere.
If there are 2 purchasers on a home and only one is a first time home buyer can first time buyer get first time home buyer tax credit?
Yes
What is a first time buyer tax credit 2010?
A first time buyer tax credit is a credit you can get if you purchased a house (primary residency) in 2008, 2009 or 2010. It reduces your tax bill (what you pay).
What companies offer mortgages to a first time home buyer that has bad credit?
Finding a company that offers mortgages to a first time home buyer that has bad credit is not an easy task. Mortgagedigger, govhomeloans and operationhope are companies that offer mortgages to a first time home buyer that has bad credit.
Do you qualify for a first time home buyer credit if you we buy a home in your name as i have never owned a home and im not working but my husband is and it is also not a first home for him?
i odnt know cuz i dont own a house but i think it would
Ways to Get a Government Credit?
With tax season right around the corner, there are plenty of ways for people to qualify for a government credit. A government credit can be a smart way to gain some extra income and reduce one's expenses in life. If a person wants to qualify for a government credit, there are many ways in which he or she may do so. This article will explain all of the ways a person can qualify for a government credit. First off, a person may be able to qualify for a government credit if he or she is a first time home buyer. A couple years ago, the president instituted this new credit program to boost the real estate economy. This credit was meant to encourage people to purchase homes, as a way to better the overall economy. From this credit program, a person is able to receive anywhere from $5,000 to $7,000 back for purchasing a home for the first time. Another way to get a government credit is by having children. When filing taxes, a person may be able to qualify for childcare expenses depending on one's income. If a person meets an income level that is below average, then he or she will be able to deduct the cost of childcare from his or her tax returns. This can be a tremendous expense that one saves, since daycare often costs at least a couple thousand dollars for the average family. In addition, if a person is retired, then he or she may be able to also qualify for a government credit in the form of social security benefits. Social security benefits can tremendously help an elderly person with the expense of medicine, groceries, and other daily necessities. An elderly person should definitely seek to recover any social security benefits he or she may be able to qualify for. Another way to get a government credit is by using energy efficient products and appliances in one's home. This credit can be claimed by people who reduce their use of energy in a home and can be up to a couple of thousand dollars. This is another great credit to use and take advantage of.
Do you qualify for a Chase card if you have no credit history?
usually if you have no credit history they recommend you use a co-signer. However, if you are a student you may qualify for a first time credit card owner.
