Yes! Very exciting, the Federal Tax Credit of 10% of the purchase price up to a max of $8000 whicjh can be claimed in 2008 (by amended return) or 2009 tax return by First Time HomeBuyers. The Fed Credit is still evolving but at present, can be used toward costs or buying down your mortgage rate too!!!! And it doesn't have to repaid either. I'm not familiar with Utah but perhaps they have something on a state level to offer you also.....C.heck with the leading local lender or speak with your tax advisor! Don't miss out on this FREE money and get moving! GOOD LUCK!

First time home buyers qualify for an $8000 tax credit from the federal government. Also, fyi if you haven't owned a home in the last 3 years you are also considered a first time home buyer and qualify for the credit.

For detailed information on the Federal Tax Credit click on my blog I did a huge write up on it.

Adam Harward
Harward & Associates Real Estate
Provo, Utah
801.400.3143

Dristy,

The government tax credit is for a first time home buyer. A condominium home, a townhome, a twin home, or a traditional single family home would all qualify. The purchase must be completed, that is title in your name, on or before Monday November 30, 2009. You would want to have identified, offered on, and be working with a lender for that specifc home by mid October 2009 to ensure you do not miss that deadline.

That said, there are other stipulations on you as the home buyer. A lender is best situated to guide you through those items.

Contact me for a referral to an experienced loan officer to help you.

Cheryl Lyon
Coldwell Banker Residential Brokerage--Utah
801.633.6855
Cheryl.Lyon@UtahHomes.com

Yep, the tax credit. Also, see if there's a program in your area like the one I talk about in this blog.

The tax credit is good on any home you buy before DEC 1st but it does have requirements for income. View my blog for more information.