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).
In order to get the first time home buyer tax credit, you need to have closed on your home by October of 2010. If so, you can take the deduction on your taxes.
Yes, the first time home buyer's credit is still available, and will be so until April 2010 (http://www.federalhousingtaxcredit.com/).
Yes. There is a first-time home buyer credit of up to $8000 until 4/30/2010.
First time buyer tax credits may be available to individuals who purchased a primary residence between 2008 and September 30, 2010. This credit must be claimed on a 2008, 2009, or 2010 tax return or amended tax return.
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.
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.
Yes
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.
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?
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.
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.