Home Buying in 97202>Question Details

Manwomenkids…, Home Buyer in 97202

can i buy duplex as a first time homebuyer and still get the tax credit? Can i have a co-signer and still get the tax credit?

Asked by Manwomenkidsdog, 97202 Sun Sep 13, 2009

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3
Hello,

If someone else will be living in the property with you, you can apply to purchase a duplex together as owner occupied. The tax credit still applies on a duplex. Many accountants will offer a first hour courtesy before charging. I mention this because although you can find information online, chatting online may not give enough information to best advise on your personal situation. I would suggest speaking with an accountant instead to take the opportunity to go over your personal scenario as it may offer a greater benefit to be advised on how the tax credit should be claimed.

A duplex is a great idea to help offset the mortgage payment. Guidelines for a duplex are different than guidelines for a single family residence. It's best to know these guidelines before making an offer on a property. That way we can show you options, going over figures until we get it just right. We do not charge any up front costs and everything we do is local. Because of how long we have been in business, we do not have a large amount of overhead. Therefore, we pass that savings along to you.

Currently we are offering a 50% special (Visit our website http://www.ambientlending.com for details). I am also available evenings and weekends.

Crystal Beard
Ambient Home Lending
Phone 877-777-9763 (toll free)
crystal@ambientlending.com
http://www.ambientlending.com
0 votes Thank Flag Link Mon Sep 14, 2009
Hello,
Yes you should be able to get the tax credit if you are purchasing a duplex. I am currently working with clients who are co-signing and going to live in each unit. They are both wanting the the $8000 tax credit, but I was told by the lender, it is only one tax credit per property. Although, It is really important that you have all of your financial questions being answered and confirmed by someone licensed in that field. If you would like, I can recommend a loan officers that I have been working with who is excellent.

I see you are in the 97202 area code, if you click on this link:
http://relocationtoportland.com/wp-content/plugins/hq_idx/se…
It will take you to see all of the Portland homes for sale in Sellwood and other local neighborhoods of 97202.

Thank you,
Kevin Levy
Portland Realtor
503-267-7535
http://www.RelocationToPortland.com
0 votes Thank Flag Link Sun Sep 13, 2009
Yes you can if you will be living in the duplex as your main residence. I'd check with a lender to be sure you are within the time frame to get the tax credit.

Jean Pritchard
Broker
Amerivest Realty of Portland
503-680-4449
0 votes Thank Flag Link Sun Sep 13, 2009
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