Westport, MA Mobile: (774) 930-8181 Email Karen Ann Martin

$8,000 First Time Home Buyer Tax Credit


  Homebuyer Tax Credit  An $8,000 tax credit for first-time home buyers for the purchase of a principal residence, home, condo or owner occupy multi family* ( up to 4 units see below ) The credit does not require repayment. As long as requirements are met.

* First time home buyers ( described as someone who has not had a mortgage loan in the past 3 years )

* Home owners who sell their home they have lived in more than 5 years get a tax credit of $6,500

 * Credit will be given in your tax refund -do not have to pay back, can receive from amending your 2008 return or filing your 2009 return. For example: if you normally get a refund of $2,000 you would get a refund of $10,000 in you return.

 * must have a home under contract by April 30, 2010  and purchase by June 30, 2010.

 * must live in the home 3 years. 

  * part of the stimulus plan to give an extra incentive to Own Your Own Home 

 * partial credit given if a multi- family ( call me for more info )

Must earn less than $75,000 if single an less than $150,000 if married  ( Partial credit given if you earn more )

Karen Ann Martin REALTOR Call(774) 930-8181 or Contact Me