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| First time homebuyer tax credit up to $8,000 |
APPLY NOW |
With historically low interest rates, a median home price dip and a limited time tax credit, now is the perfect time for first time homebuyers to obtain a home mortgage.
Who qualifies as a first time homebuyer? A first time homebuyer is defined as anyone who has not owned a home in the last 36 months.
What is the difference between a tax deduction and a tax credit? A tax deduction is an amount that is subtracted from adjusted gross income when calculating taxable income; it reduces the amount of income on which you pay taxes. A tax credit is a dollar for dollar refund.
What is the time limit on the tax credit? Originally slated to expire at the end of December, 2009, the first time homebuyer tax credit has been extended to April 30, 2010.
Getting pre-qualified is the perfect way to get started.
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