Home Buying in Brookline>Question Details

Adi, Home Buyer in Brookline, MA

Can second time home buyer can get $8,000.?

Asked by Adi, Brookline, MA Thu Mar 19, 2009

If I own a condo. And we are buying a new house in my and my husband's name. My husband is first time home buyer. Will we get the $8,000 credit.

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4
Adi,

you will get the tax credit if both of you have not purchased a home in the past 3 years. True, the amount of maximum tax credit allowed is $8,000, however the actual credit you and your husband will be eligible for will depend on your combined income and the purchase price of the home. Hope it helps!
Web Reference: http://www.boc-re.com
1 vote Thank Flag Link Thu Mar 19, 2009
You are considered a "first time home buyer" if you haven't owned a home in the past 3 years. So, if you sold the last home you owned more than 3 years ago, you have become a first time buyer all over again! In that case, the answer is "yes"!
0 votes Thank Flag Link Thu Mar 19, 2009
Here is a link to the federal website that addresses several frequently asked questions.
http://www.federalhousingtaxcredit.com/2009/faq.php
Web Reference: http://www.commonmoves.com
0 votes Thank Flag Link Thu Mar 19, 2009
Sorry,no. You would have to be both first time buyers--meaning neither of you has owned a home in the last 3 yrs.
0 votes Thank Flag Link Thu Mar 19, 2009
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