If you're a first-time homebuyer ready to take the plunge, this is information you need to know to determine whether or not you qualify for up to $8,000 in tax credits. Regardless of how frigid it is outside at the moment, April 30 is closer than you think (110 days and counting...)
Provided you meet the income and eligibility guidelines, you may be able to claim an $8,000 credit on your 2010 Federal Income Tax Return.
$8,000 can buy you a lot of paint, furniture, window treatments...whatever it is you need to make your new house a home...but you must have a purchase & sales agreement in place before May 1, 2010 and you must close before July 1, 2010 in order to take advantage of the tax credit.
Buying a house takes time...time to find the right property, time to complete inspections, time to obtain financing commitment from your lender, time to complete title work. It can take 6 weeks or more to make the transition from first offer to receiving the keys to your new home. Even though it may feel like time has stood still during this process, rest assured it has not...Tick-Tock-Tick-Tock.
Hard as it may be to believe right now, Spring is coming...Don't be left out in the cold!
