Home Buying in 73008>Question Details

Lala, Home Buyer in 73008

can I get the 8000 dollars credit if I buy a mobile home?

Asked by Lala, 73008 Fri May 14, 2010

I want to buy a home for first time and I need to know how get the 8000 dlls. credit

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Answers

7
Chris is right, you might still qualify. Also, the mobile home could qualify if it is permantly attached to land.
1 vote Thank Flag Link Mon Jun 14, 2010
Military personnel can still qualify for the $8000 tax credit if they are under contract to purchase a home by April 30, 2011. Contact me at 405-808-7922 to find out more.
0 votes Thank Flag Link Wed Feb 16, 2011
Unfortunately you needed to be contract by April 30, 2010 and close by June 30, 2010--see IRS link for additional information.
http://www.irs.gov/newsroom/article/0,,id=206293,00.html
0 votes Thank Flag Link Sat May 15, 2010
As other said, you are a little bit late.

Also, I would like to mention that the tax credit was UP TO $8,000. It could be less based on your income taxes.
0 votes Thank Flag Link Sat May 15, 2010
Too late.

You would have qualified. Mobile homes were eligible. However, keep in mind that it was a 10% tax credit up to $8,000. That means the mobile home would have had to cost at least $80,000. So, if you were buying a mobile home for $30,000, then your tax credit would only have been $3,000.

But you had to be under contract by April 30.

On the other hand, mobile home sellers are a lot more flexible on price, generally, than "stick built" home sellers. If you're a good negotiator, or know one, you can save a huge amount by just negotiating the price down.

Hope that helps.
0 votes Thank Flag Link Sat May 15, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
If you are military, or a qualified support person, that has been deployed out of the states, you might qualify if you purchase a home by 4/30/11.
0 votes Thank Flag Link Sat May 15, 2010
Lala - sorry, but the first time buyer's tax credit expired April 30. It's too late, as you had to be under contract by then.

Best wishes.............
0 votes Thank Flag Link Fri May 14, 2010
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