Yes, the credit is fully refundable.
You will have to file a tax return to claim it, however.
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.
The first time home buyers credit is available to people who purchased their home from 2008-2010. You could not previously have owned a home in the three years before the closing date on your new house. If you owned a home previously, but sold it before the three year deadline, you are still a candidate.
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/
Does a land contract qualify a first time home buyer for the new tax credit?
Yes Duplex do Qualify for the Tax Credit I found the answer at IRS.GoV under the First Time Buyers Question and Answers Basically you can claim only the portion the the unit the owner occupies
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.
How do I qualify for a first time home buyers grants
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.
Yes, there is an $8,000 tax credit for first time home owners, provided the qualify. This would be found out as they go through the loan process.
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.
First time buyers get tax benefits and begin to build a credit.
The first time home buyers credit is available to people who purchased their home from 2008-2010. You could not previously have owned a home in the three years before the closing date on your new house. If you owned a home previously, but sold it before the three year deadline, you are still a candidate.
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/
Does a land contract qualify a first time home buyer for the new tax credit?
Yes Duplex do Qualify for the Tax Credit I found the answer at IRS.GoV under the First Time Buyers Question and Answers Basically you can claim only the portion the the unit the owner occupies
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.
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.