Home Buying in 11238>Question Details

Theodora Dig…, Home Buyer in Brooklyn, NY

The $8000.00 tax rebate for first time home buyers, can this be used towards your down?

Asked by Theodora Diggs, Brooklyn, NY Fri Jul 24, 2009

I was watching HGTV Property Virgins and the host indicated to a potential buyer that the tax rebate could be used depending on the loan source, towards the down payment.

Help the community by answering this question:


Hey Theodora:

i'm Pierre King, Associate Broker at Weichert Realtors H P Greenfield. Back in May 2009, U S Dept of Housing and Urban Development Secretary, Shaun Donovan unveiled plans to allow consumers to applied the FREE $8000 Tax Credit towards the purchase of a home. Read my current BLOG on WHY YOU MUST BUY NOW or REGRET LATER:http://www.trulia.com/blog/pierreking for details.

It has hit NY just speak with your LOAN OFFICER on how to apply it! You may contact me directly for additional questions - email:MrRealEstateKing@yahoo.com


Pierre King
0 votes Thank Flag Link Sun Aug 2, 2009
Hello, when you watch HGTV you have to know what state it's taking place in. Not all states have the same policies when it comes to real estate. In New York we have not gotten the go ahead to tell buyers to use the tax credit towards the down payment. If you make the deadline of December 1, 2009 then you can file tax form 5405 for the credit along with your taxes in 2010.

To see the tax credit form and guidelines click below:

For more tax credit questions and answers click below:
0 votes Thank Flag Link Tue Jul 28, 2009
Forget it. I got too excited and forgot about Mitchell's response to my first question. Income must be lower than $75,000.00 and it available after the closing...SIGH.
0 votes Thank Flag Link Fri Jul 24, 2009
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