«There were a lot of buyers who were on the fence, who were renting and maybe weren't sure if they were ready, and this first - time
home buyer tax credit got them off the fence,» said Kelli Bennett, a mortgage loan specialist with Key Mortgage in Southern Pines.
Not exact matches
«Depending on the purchase price of your
home, a
buyer can
get 20 to 30 percent of the interest they pay every year back as a straight
tax credit.»
The MCC program helps
home buyers get 35 % of their mortgage interest back every year as a federal income
tax credit.
While the original
home buyer tax credit deadline passed in April 2010 (and isn't available in 2012), military families and some government workers on assignment outside the U.S. were given an extension until April 30, 2011, to
get a
home under contract and take advantage of up to $ 8,000 in
tax credits for first - time
buyers and $ 6,500 in
credits for repeat
buyers.
You may not be eligible for the 1st time
home buyer $ 8k
tax credit so why not at least
get a little piece of the pie for yourself?
The mortgage interest
credit offers another chance for the first time
home buyer to
get a
tax break for whatever mortgage interest they paid last year.
The $ 7,500
home ownership
tax credit that the federal government created earlier this year as part of the Housing and Economic Recovery Act (H.R. 3221) is another tool at your disposal to encourage potential
buyers to jump off the fence and
get into the real estate market.
Beyond the usual crop of
buyers and sellers using the school year as their timeline, there are thousands more who'll be motivated to
get a deal in writing by April 30 to qualify for the federal
home buyer tax credit, which was expanded late last year to include both first - time and repeat buyers (see «Tax Credit Deadline: What You Need to Know»
tax credit, which was expanded late last year to include both first - time and repeat buyers (see «Tax Credit Deadline: What You Need to Know&ra
credit, which was expanded late last year to include both first - time and repeat
buyers (see «
Tax Credit Deadline: What You Need to Know»
Tax Credit Deadline: What You Need to Know&ra
Credit Deadline: What You Need to Know»).
Some
home buyers in California could
get a federal
tax credit worth up to $ 8,000 plus a new state
credit worth up to $ 10,000 if they time their purchase just right over the next three months.
And if someone is a first time
home buyer and buy it by Dec 31, they will
get an $ 8,000
tax credit!