Homebuyer Tax Credit Plan Agreed to by U.S. Senate Democrats !
If it passes, the proposal would:
1) Let homeowners qualify for a $6,500 credit if they have lived in their residence for five years - i.e. they don't have to be first-time home buyers anymore.
2) The income limits will go up (if it passes) to individuals earning up to $125,000, or $250,000 for couples, up from $75,000 for individuals and $150,000 for couples under the current law.
3) The plan would extend the credit, due to expire Nov. 30, to home purchases under contract by April 30, 2010, with borrowers allowed another 60 days to close the sale
the initial first time home buyers tax credit is $7500 and will be paid back over time if you bouoght a home in 08. If you buy ahome in 09 you get the $8000 tax credit that you don't have to pay back. There is a lot of mis understanding on how and who this credit applies to. If you are interested in this feel free to contact me and we can figure out what applies to you and your situation.
NEWS YOU CAN USE!
Homebuyer Tax Credit Plan Agreed to by U.S. Senate Democrats !
If it passes, the proposal would:
1) Let homeowners qualify for a $6,500 credit if they have lived in their residence for five years - i.e. they don't have to be first-time home buyers anymore.
2) The income limits will go up (if it passes) to individuals earning up to $125,000, or $250,000 for couples, up from $75,000 for individuals and $150,000 for couples under the current law.
3) The plan would extend the credit, due to expire Nov. 30, to home purchases under contract by April 30, 2010, with borrowers allowed another 60 days to close the sale
**There can be a Non-Occupying Co-borrower on FHA loans** (FYI) Whether the buyer has owned a home before- it doesn’t matter in KootenaiCounty & various surrounding counties. We are exempt from that stipulation with IHA.