The NEW $8k 1st Time Home buyer Tax Credit

  _{~ Will}

               The NEW $8,000

First-Time Home buyer Tax Credit    

The credit is designed to encourage first-time home buyers to go ahead and make the leap to purchase their first homes.

Combine this tax credit with the fact that home prices and interest rates are at historical lows, and it is indeed an ideal time for many first-time home buyers to purchase a home!

Here are some things to keep in mind:

·       A first time home buyer is defined as someone who has not owned a home in the last three years

·       Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit

·       You cannot purchase the home from a related party like a spouse, direct ancestor, or direct lineal descendant (child or grandchild); however, you can still qualify for the credit if you purchase a property from siblings, nephews, nieces, and others

·       If you are married, both spouses must be first-time home buyers

·       If more than one unmarried individual is buying the property, the credit can be split up among all the individuals who qualify. However, the total credit taken cannot exceed  $8,000.

NEW DATES:  For Homes Purchased Between November 7, 2009 and June 30, 2010 (must  have contract signed by April 30, 2010)

The credit amounts to 10% of the purchase price of the home not to exceed $8,000

The tax credit does not need to be paid back if you continue living in the home as your primary residence for three years without selling it

For more information:

For more information about the first-time home buyer tax credit or other recent updates to the mortgage and real estate markets, just give me a call.


William Heinzle
Broker/Agent
Keller Williams /Eugene-Spfld
My Website:
http://x312165.yourkwagent.com/atj/user/HomePageGetAction.do
Office: 541-431-6480
Direct: 541-543-9433

2644 Suzanne Way
Eugene, OR 97408
E-Mail: willheinzle@kw.com