$8,000 First Time Home Buyer Tax Credit

Another great reason that now is the right time to buy is the incentive that the government is offering. They are currently offering a tax credit to first time home buyers. The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified 1st time home buyers purchasing a principle residence on or after January 1, 2009 and before December 1, 2009.
The definition of a first time home buyer is defined as a buyer who has not owned a principle residence during the 3 year period prior to the current purchase. In the case of married couples both spouses history s included. The tax credit amount is equal to 10% of the purchase price up to $8,000. there are income limits considered for this program 0f $75,000 for a single tax payer and $150,000 for married tax payers. for more info please contact us on Bruder Properties or go to this site