The Home Buyers Tax Credit hs been extended for 3 groups:
• Men and women of the U.S military;
• Members of the Foreign Service of the U.S;
• Employees of the intelligence community who are actively serving outside of the U.S. on "official extended duty" (for example, any period of extended duty outside of the United States for at least 90 days during the period beginning December 31, 2008 and ending before May 1, 2010)
Thanks to the Worker, Home Ownership, and Business Assistance Act of 2009, qualified military service members have one extra year to take advantage of the Homebuyer's Tax Credit. But don't wait - if you are buying a house and qualify for this tax credit, you must make your purchase by April 30, 2011, and close by June 30 2011.
In addition to utilizing this credit, qualified home buyers can use other available benefits from the Department of Veterans Affairs. Likewise, Veterans Affairs ("VA") allows qualified military borrowers to purchase certain homes in certain areas with no money down and no private mortgage insurance.
Qualifications are as follows (for first-time home-buyers):
• The buyer and his or her spouse cannot have owned a home in the last three years.
• Unlike the Home Buyer Tax Credit for non-military personnel, the home needs to be no more than $800,000 under this program.
• There is a credit "phase-out" for individual taxpayers with modified adjusted gross income between $125,000 and $145,000 or between $225,000 and $245,000 for joint filers.
Qualifications for "repeat" buyers are the same as for first-time home buyers, except for the following:
• The buyers must have lived in their current home of residence for 5 out of the last 8 years.
This is a great financial opportunity! Qualification for more than one credit (i.e. VA) for buying a home, plus the opportunity to buy a home at lower prices and lower interest rates - there is not a better time than now to buy your "dream home".
For those interested in the credit, are looking to buy a home, or have inquiries into the home-buying process, I am a phone call or email away.
You can reach me via phone at 551-206-1163 or by email at BOBWOLFREALTOR@GMAIL.COM.
HAVE A WONDERFUL MEMORIAL DAY WEEKEND!
• Men and women of the U.S military;
• Members of the Foreign Service of the U.S;
• Employees of the intelligence community who are actively serving outside of the U.S. on "official extended duty" (for example, any period of extended duty outside of the United States for at least 90 days during the period beginning December 31, 2008 and ending before May 1, 2010)
Thanks to the Worker, Home Ownership, and Business Assistance Act of 2009, qualified military service members have one extra year to take advantage of the Homebuyer's Tax Credit. But don't wait - if you are buying a house and qualify for this tax credit, you must make your purchase by April 30, 2011, and close by June 30 2011.
In addition to utilizing this credit, qualified home buyers can use other available benefits from the Department of Veterans Affairs. Likewise, Veterans Affairs ("VA") allows qualified military borrowers to purchase certain homes in certain areas with no money down and no private mortgage insurance.
Qualifications are as follows (for first-time home-buyers):
• The buyer and his or her spouse cannot have owned a home in the last three years.
• Unlike the Home Buyer Tax Credit for non-military personnel, the home needs to be no more than $800,000 under this program.
• There is a credit "phase-out" for individual taxpayers with modified adjusted gross income between $125,000 and $145,000 or between $225,000 and $245,000 for joint filers.
Qualifications for "repeat" buyers are the same as for first-time home buyers, except for the following:
• The buyers must have lived in their current home of residence for 5 out of the last 8 years.
This is a great financial opportunity! Qualification for more than one credit (i.e. VA) for buying a home, plus the opportunity to buy a home at lower prices and lower interest rates - there is not a better time than now to buy your "dream home".
For those interested in the credit, are looking to buy a home, or have inquiries into the home-buying process, I am a phone call or email away.
You can reach me via phone at 551-206-1163 or by email at BOBWOLFREALTOR@GMAIL.COM.
HAVE A WONDERFUL MEMORIAL DAY WEEKEND!
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