For those of you wodnering how the Federal Housing Tax Credit of 2009 will benefit you, when planning a Santa Clarita home purchase, here are a few things you need to know!
Q: What’s up for grabs?
A: $8,000 Tax Credit For First Time Home Buyers!
Q: How?
A:
• The tax credit is for first-time home buyers only.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
• The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
Interesting right? Did you know that even if you have owned a home in the past, you may be considered a first time home buyer if you haven’t owned a home in the three years prior to your next purchase!?
Another enticing way to look at this valuable tax credit of $8,000, is that if you purchase a condo or home in Santa Clarita for about $230,000, that means that the required minimum down payment of 3.5% ($8050) would be almost entirely paid back to you in the form of this tax credit!
Also, you can claim this tax credit on your 2008 Tax Return! You don’t even have to wait until 2010 when preparing your 2009 Tax Return!
Please speak with your CPA, or financial adviser to inquire about the details of this new legislation, and how it will affect your personal financial situation.
When you’re ready to start discussing your 2009 Santa Clarita home purchase, please call The SCV Agents Team @ Realty Executives! We can be reached at 661-964-1760, or just find us on the web @ http://www.TheScvAgents.com/.
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