Home Buying in 98188>Question Details

Adam, Home Buyer in 98188

Buying a condo with a co signer, would i still get the $8000 tax credit.

Asked by Adam, 98188 Tue May 26, 2009

I am buying a condo and have a cosigner , the co-signer's name is going to be on the purchase contract .
i am a first time home buyer and he isn't.
would i still qualify for the $8000 tax credit .
thanx

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Answers

4
See this page http://www.irs.gov/newsroom/article/0,,id=206294,00.html on the IRS website for this. It appears the answer is "yes"
1 vote Thank Flag Link Tue May 26, 2009
0 votes Thank Flag Link Wed May 27, 2009
I am closing on a condo next week for a young man who has his parents as his co-signers and he
will be elegible for the tax credit.. In fact he will be ammending this years tax filing, so he can then re-pay his grandma for the downpayment... Just remember on very important thing..

Your home must be closed by November 30.
If you are looking at short sales, be wary unless they are bank approved.. You have no control when the
bank can approve it, and most take at least 90-to 120 days..
0 votes Thank Flag Link Tue May 26, 2009
Adam,

Our recommendation is to consult this very helpful website.

http://www.federalhousingtaxcredit.com/2009/faq.php

Good luck
0 votes Thank Flag Link Tue May 26, 2009
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