First Time Home Buyers get $7,500 tax credit!
August 8th, 2008 categories: Buying Real Estate in Coconut Grove
The Housing and Economy Recovery Act of 2008 allows first-time home buyers to receive a tax credit of $7,500 from the purchase of their new home. This is great news for all those people who are taking advantage of the lower prices our current real estate market has to offer. Now there is even more incentive to buy!
Restrictions include:
- Home must be purchased (closed) between June 1, 2008 and June 1, 2009
- Income restrictions are $75,000 for singles, and $150,000 for couple
How do you get the tax credit?
- Just present your HUD Statement to your CPA and he’ll do the rest!
