QUICK SEARCH







 

$8,000 Tax Credit


title line
 

First-Time Homebuyers

The deadline is quickly approaching; April 30, 2010 is right around the corner!

 First-time home buyers and move up buyers have another great reason to get on the path to purchasing a new home! The benefit to First-time homebuyers is a tax credit up to $8,000 and for qualified Move-up buyers a tax credit up to $6,500. But this opportunity ends in April.

 

  • Between November 7, 2009 and April 30, 2010, homebuyers that have a signed binding contract to purchase a home by April 30, 2010 may be eligible for the tax credit. The transaction must close by June 30, 2010.
  • For First-Time Homebuyers, a tax credit up to $8,000 ($4000 for married filing separate), homebuyers may receive a credit of 10 percent of the purchase price up to the $8,000 tax credit amount. If you have never owned a home before or have not owned a principle residence in the last three years, you are considered a First-Time Homebuyer.
  • For the "Move Up" consumer, a tax credit of up to $6,500 ($3250 married filing separate) is available for Homeowners who have lived in their current residence for at least five consecutive years out of the past eight years. The homebuyers can receive a credit up to $6,500 when they contract to purchase a home by April 30, 2010, and close by June 30, 2010

 

The tax credit does not have to be repaid provided you live in the new home for a minimum of three years. Military families who must move due to a call to active duty are exempt from this minimum.

Before you decide to use the First-Time Homebuyer Tax Credit, please remember to consult with a tax professional. Contact a CENTURY 21 Sales Professional today and get on the PATH HOME.

The CENTURY 21® System commissioned Penn, Schoen & Berland Associates (PSB)3 to conduct an online survey with prospective first-time homebuyers to understand how to better serve you as your Professional Champions. A key finding is that "There is strong interest in taking advantage of the first-time homebuyers (FTHB) tax credit included in the stimulus bill, as 77% of potential buyers say the tax credit makes them more likely to buy a home in the next 6 months."2

 

And an opportunity like this does not come around too often!

Saving the Dream of Home Ownership

If Your Home is on the line --- It's time to reach out to YOUR Resource: A CENTURY 21® Professional Agent
CENTURY 21 Agents can help consumers understand their opportunities in today's challenging market. There are now hundreds of thousands of families all across America facing foreclosure because they simply cannot afford their mortgage payments, or they owe far more than their house is currently worth.

To make matters worse, 50% of homeowners who do lose their homes to foreclosure have never once contacted their lender, according to the Mortgage Bankers Association.

Why Choose a CENTURY 21 Agent in this process?
Understanding and empathizing with consumers is part of what makes our CENTURY 21 Agents 'Professional Champions'. Often there is a sense of embarrassment and a loss of pride when a mortgage payment is late, delayed or delinquent. Our goal is to help as many homeowners who are facing some form of financial difficulty to avoid foreclosure by providing guidance.

Here are direct links to two resource sites available that you can use and educate yourself on how to avoid foreclosure: