ANNOUNCEMENTS
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****** First Time Home Buyer's Tax Credit Program******
Has been extended!!!!!
Amount of Credit: Maximum Credit amount is $8,000
Eligible Properties: Any single-family residence that will be used as a principal residence
How it works: Reduces or eliminates the borrower's tax liability for the year of purchase
Income Limits: The full amount of credit is available for individuals with an AGI of no more
than $75,000 or $150,000 for those filing a joint return.
The tax credit phases out above those caps.
Home Limits: Purchaser mut not have owned a principal residence in the 3 years previous
to this purchase. The tax credit DOES NOT have to be repaid unless the
home is sold within 3 years of purchase. In that case, the entire amount of
the credit will be recaptured on the sale of the home.
You Must close on the house by July 1, 2010!!!!!