Down Payment with First Time Home buyer's Tax Credit

The "first time" home buyer's tax credit just got a little sweeter.  Not only can "first time" home buyers recieve up to an $8,000 tax credit, but now they can actually use it right away for down payment, closing costs, or to buy down the payments.  To qualify a "first time" home buyer must have not owned a principal residence during the three-year period prior to the purchase. 

This is a great opportunity for those who qualify and can afford to purchase a home for obvious reasons.  Prices are down, and there are more properties to choose from!

 

To learn more about the credit please visit http://re.harborportal.com/docs/2009taxcredit.pdf

Source: http://www.latimes.com/classified/realestate/news/la-fi-harney7-2009jun07,0,7341387.story

 

 

Jared Hammond

Jared Hammond

Real Estate Associate & Property Manager
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