Springfield Area Blog

This is an incredible opportunity for first-time home buyers to take advantage of low interest rates and the $8,000 tax credit. Just think, that money could cover your mortgage for a significant amount of time, or be used towards some major remodeling projects if you find a good deal on a "fixer upper". The possibilities are endless, and remember this is a credit not a loan, it does not have to be repaid. Call us to discuss options.

CB

$8000 tax credit highlights include:

• The $8000 tax credit is available only to first-time home buyers
• The $8000 tax credit is available only when the first-time home buyers buy a primary residence
• The $8000 tax credit is available only to first-time home buyers buying a primary residence between January 1, 2009 and December 1, 2009
• The $8000 tax credit does not require repayment
• The $8000 tax credit is claimed on a tax return and reduces the tax liability. If the credit is more than the tax liability, the unused credit will be issued as a check to the person claiming the credit
• If you sell the home within 3 years, the entire $8000 tax credit is recaptured