Home Buying in 19047>Question Details

Brenda Bellm…, Real Estate Pro in Nicholasville, KY

can a first time home buyer qualify for the tax credit with a co-signer if the co-signer owns a home?

Asked by Brenda Bellman, Nicholasville, KY Sun Jun 28, 2009

can a first time home buyer qualify for the first time home buyer credit with a co-signer that already owns a home

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Danny T Thompson’s answer
I don't think so - it depends whose name is on the closing statement.. if the co-signer has to sign the HUD1, then most likely you cannot get the tax credit under those conditions -- but, check with a CPA.
Web Reference: http://www.CallDannyT.com
0 votes Thank Flag Link Sat Dec 19, 2009
The short answer is yes if the buyer qualifies but always check with your tax accountant.
Allso FYI check out Q&A on the IRS web site.

Fran and Mark Redding
Prudential Fox & Roach, Realtors
1010 stonyhill Road
Yardley, PA 19067
215-321-3307 Direct
215-208-7169 Cell
Web Reference: http://www.franandmark.com
0 votes Thank Flag Link Sun Jun 28, 2009
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