Here’s some interesting information about Real Estate Bailout to homebuyer tax credit that helpful for first time homebuyer especially because this is the right time to buy home before April 2010.
First, the $8,000 first-time homebuyer tax credit will expire at the end of April. If you haven’t owned a house in the last three years, you are literally throwing money away by not buying. The tax credit is a dollar-for dollar offset of your Federal Income Tax liability, and as a refundable credit, you get it even if you don’t owe that much in taxes! Even if you’ve owned a home, the expanded credit still gives you $6,500 as long as you’ve been in your current home for five years. Low to moderate income buyers even have the opportunity for additional assistance through various state and municipal down payment assistance programs that can further reduce their out of pocket expenses.
Now…why you must buy your new home as soon as possible? Maybe you can take your time to watch the video according to The National Association of Realtors News Release that explanation about this home buyer tax credit by Coldwell Banker president and ceo.
Now…what your waiting for? Go and get new home for your life before the end of April on this year. Don’t miss it.
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