$8000 first time homebuyers tax credit

What you get...
Your tax credit will equal 10% of the value of your home up to $8000. If you do not owe $8000 in taxes, you receive the balance in CASH! A stimulus check mailed directly to you. If you sell your house within 3 years, you may need to repay a portion of the tax credit on a prorated scale. Check with your tax advisor to discuss all the benefits of the home ownership and the deductions you will qualify for.

How to Qualify for the $8000 credit...
1. You have NOT owned a home as your primary residence for the past 3 years.
2. Your income does not exceed $125,000 (filing individually) or $225,000 (married filing jointly)
3. If your income is more, you may still qualify, but on a sliding scale.
you must have a signed contract by April 30th 2010. You will have an additional 60 days after that date to close financing.
4. The home you buy must be your primary residence.
5. You must be 18 years of age or older, you cannot be a dependent of the seller.
6. The home may not sell for more than $800,000 to qualify. If you resell the home within 3 years, there may be a credit repayment penalty.

If you have more questions about the 1st time homebuyer's credit contact us at www.gigharborhomesales.co
We can also provide a best buy list for your local area.
Let us help you make the right decision.