First Time Homebuyers get $8,000 incentive from Obama’s Housing Relief Bill!
Posted by on Thursday, February 26th, 2009 at 11:27am.Many buyers don’t know that if they purchase a home on or before June 1, 2009 they can claim this credit on their 2008 taxes. I’ve been in some pretty deep discussion with a couple of CPA’s and the most aggressive of CPA’s will tell me that a buyer planning to purchase a home on or before June 1, 2009 could go ahead and file for the $8000 incentive when they go into contract to purchase the home. And then quickly amend or re-file their 2008 returns in time to receive the stimulus money and use it for down-payment and closing costs…. First time home buyers, now it the time to make a move! O’ by the way there is also a re-payment waiver for those buyers that occupy the home they buy for 36 months. Yes, that is right...it's free money for those that live in the home they purchase for 36 months.
Some of you are saying to yourself “What if they’ve already filed 2008?”…no worries they can re-file or amend the return and get the $8,000 incentive right now!
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Share3 Responses to "First Time Homebuyers get $8,000 incentive from Obama’s Housing Relief Bill!"
I have to agree with Dylan that this credit is the perfect way to get people off the fence and buy a home. Hopefully it will stimulate the market and be a great help during this time of financial struggle.
Posted on Sunday, March 15th, 2009 at 2:06 PM.
Wow, I realize this stimulus package has ended now, but I had never thought of using the amended tax return as funds toward the closing costs of the house. That is a great idea that would have helped out a lot of people looking to purchase a home.
Posted on Thursday, April 7th, 2011 at 10:35 AM.
The $8,000 credit is a geat way to get first time home buyers off the fence. Its great that the new credit is actually a credit and not a loan, (as long as you live in the home for 3+ years).
Posted on Friday, March 6th, 2009 at 5:24 PM.