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Financing in Temple Terrace : Real Estate Advice

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  • Home Buying4
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Activity 1
Tue Apr 7, 2009
Alma Kee answered:
Hi Steve,

If you're a first time homebuyer, you can get 10% of the sale price (up to $8k) back when you file or amend your tax return. This money doesn't have to be repaid and if you've already filed you can file an amended return to get the cash quicker. You can't have owned a house within the past 3 years (and I believe there are some exceptions in divorce situations) to get the money. You can't get the money in advance so you'll still need at least 3.5% of the purchase price to get a mortgage.

Hope this helps.

Alma Rose Kee, P.A.
Charles Rutenberg Realty, Inc.
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