Does a person have live in the home to qualify for the $8K first time buyer credit?

Norbert Norman
Norbert Norman
Home Buyer
Phillips, Minneapolis,...

Tue Nov 10 2009, 07:17 - Home Buying in Minneapolis - 6 answers
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Betty Stroll
Betty Stroll
Agent
Westport, CT

it applies to the principle residence only..not to investment property

Tue Nov 10 2009, 18:39
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Colin Simpson
Colin Simpson
Agent
Minneapolis, MN

Yes. You must use it as your residence.

Tue Nov 10 2009, 11:10
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Joel Friday
Joel Friday
Agent
Andover, MN

As the others have said you do have to owner occupy the home. Here are two links that describe the changes to the law that were recently enacted.

http://www.mnrealtor.com/AM/CM/ContentDisplay.cfm?ContentFil…

and the FAQ

http://www.mnrealtor.com/AM/CM/ContentDisplay.cfm?ContentFil…

Web Reference: http://JoelFridayHomes.com
Tue Nov 10 2009, 07:33
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Andy Asbury
Andy Asbury
Agent
Minneapolis, MN

Hi Norbert,

Yes, the credit would only apply to purchasing a principal residence.

Web Reference: http://www.MinnesotaLoftsandCondos.com
Tue Nov 10 2009, 07:28
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Lenny Frolov
Lenny Frolov
Agent
Minneapolis, MN

You must purchase and occupy the home as your primary residence.

Web Reference: http://www.lennyfrolov.com
Tue Nov 10 2009, 07:26
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BenitoGarza.us
BenitoGarza....
Agent
Minneapolis, MN
FIRST ANSWER

Yes, and it is UP TO.

This link might help you.

http://www.irs.gov/newsroom/article/0,,id=204671,00.html?portlet=7


http://www.federalhousingtaxcredit.com/faq1.php

Benito.

Tue Nov 10 2009, 07:22
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