I qualify for a PHFA loan can I get the tax credit from the IRS

Asked by Ron, 18508 Mon Jun 22, 2009

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Diane’s answer
Diane, , Scranton, PA
Thu Jul 23, 2009
As long as you are a first time homebuyer you qualify for the $8,000 tax credit. The PHFA loan will give you up to $5,000 which is interest free for the first year. When you file your tax return in 2010 you can use the $8,000 tax credit to pay back PHFA. If you don't do this, the money received from PHFA will become an amoritized loan. You can contact me at dhyland11@msn.com for more information.
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