Important News for First Time Home Buyers!

On February 17th, 2009 Congress signed into law new incentives for first time homebuyers. We are here to help you understand this new incentive and how it may benefit you!*

A tax credit of up to $8,000** is now available for qualified first-time home buyers (the law defines a first-time buyer as someone who has not owned a home in the last three years) purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.

Download your tax form here:  http://www.irs.gov/pub/irs-pdf/f5405.pdf

Read More about this important legislation and what it means for you:   Federal Housing Tax Credit

*This information is provided for general awareness only, and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult your lender for complete details on any lending programs.   

**Tax credit of up to $8,000 available to qualified first-time homebuyers. Qualification for tax credit based upon first-time homebuyer status, income, purchase price of home and other IRS qualifications.  This information is provided for general awareness only, and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind. Please consult with your tax professional for complete details.