Alisa

You havn't provided enough info to properly address the question

First‐time homebuyers who purchase a principle residence on April 9, 2008 and before July 1, 2009 are
eligible. If you (and your spouse, if married) have not owned your principle residence for a 3‐year period
before your purchase, and you have never taken advantage of the DC first‐time homebuyer credit, you
qualify as a first‐time homebuyer. However there are some other conditions that you should be aware of:

•The full credit is available for single individuals whose adjusted gross income is less than $75,000.
• Purchases by non‐resident aliens and purchases financed by proceeds from a qualified mortgage
issue are not eligible.
• Any single family residence located in the United States that will be used as a principal residence
is eligible. This includes single‐family detached housing, condos or coops, townhouses, etc
• Home purchases between relatives and other gifts of residences are not eligible for the credit.
• For more specific questions about the tax implications of the credit, please consult a tax professional!

Tye Caldwell Sr.
Keller Williams Realty http://www.tyecaldwellrealtor.com

Hope this is helpful!

Well one answer is part right the rest of you should know this hands down. First of all Alisa as was mentioned it is for first time home buyers that are purchasing a home, with an income limit and youi may not realize this,. but it is not free money. You wil have to pay all of it back with interest/ I have heard that some items may change or have changed so please call your loan officer at your bank for complete information or the prson who does your taxes or just go to the IRS web site and you will fin all the information right from the hourses mouth. Meaning IRS and our government.

Alisa, Here is a link pertaining to the tax credit. Go to frequently asked questions and your answer is there, along with others. Hope this helps!

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

Lori Rossi
Coldwell Banker Residential Brokerage
Lori.Rossi@Nemoves.com

Hello Alisa: I am going to refer you to the hrblock.com and go under Tax tips and scroll down slightly and you will see all the details on the First-Time Homebuyer Tax Credit.

No. It is for first time homebuyers or those who have not bought a home in 3 years. It is a tax credit, it does not help you with money to close, etc.
Debbie Albert
Coldwell Banker

GREAT QUESTION: you need confer with your CPA difficult to state unless your financial records are reviewed what is a tax break for you. Speak with mortgage broker who also financed your home .