No
Yes
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Does a land contract qualify a first time home buyer for the new tax credit?
It i more likely that a first time home buyer is someone that has never bought a home before, either that means that you have never picked out the home or you have and someone else has paid for it. Either way that person would be a first time home buyer. Depending on what state you live in there are factors that could place you in the category of first time home buyer even if you have previously owned a home. In New Jersey, if you haven't owned a house in the last 3 years, you are considered a first time home buyer and are eligible for the First Time Home Buyer Program funded by the New Jersey Housing and Mortgage Finance Agency (NJHMFA). This loan offers a below market, fixed interest rate and can even help with down payment. I would check with a mortgage company in your state to see if there are similar programs available.
The average age of a first-time home buyer varies by country and market conditions, but in the United States, the average age is about 36 years old as of recent reports from the National Association of Realtors (NAR).
Yes
Yes purchasing a Mobile Home counts under 1st time Home buyer. Credit is 10% of purchase price up to $80,000.
First home buyer should wait how long before refinancing?
yes every home Buyer
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I am assuming you are looking for a first time home buyer credit. No this is a refinance not purchase. Closing Costs could possibly still be deducted on taxes but check with your tax advisor on that.
www.schousing.com/First-Time_Home_Buyers is a good place for info. you can also try first-time-home-buyer-s.com
Does a land contract qualify a first time home buyer for the new tax credit?
It i more likely that a first time home buyer is someone that has never bought a home before, either that means that you have never picked out the home or you have and someone else has paid for it. Either way that person would be a first time home buyer. Depending on what state you live in there are factors that could place you in the category of first time home buyer even if you have previously owned a home. In New Jersey, if you haven't owned a house in the last 3 years, you are considered a first time home buyer and are eligible for the First Time Home Buyer Program funded by the New Jersey Housing and Mortgage Finance Agency (NJHMFA). This loan offers a below market, fixed interest rate and can even help with down payment. I would check with a mortgage company in your state to see if there are similar programs available.
could i get a grant for a first time home buyers
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.
The average age of a first-time home buyer varies by country and market conditions, but in the United States, the average age is about 36 years old as of recent reports from the National Association of Realtors (NAR).