$8000 Tax Credit Available to First Time Home-Buyers!

That’s right! First time home-buyers are eligible to receive the Federal Government’s $8000 tax credit! In order to receive this wonderful incentive you need to officially own your home by December 1, 2009. Don’t forget, it can take some time for us to find your dream home, so contact Scott Phillips Jr. at (216) 373-6959 or ScottPhillips@howardhanna.com today!

Who is eligible?

Eligible people must not have had ownership interest in a home in the past three years. They must take ownership in their new home by December 1, 2009. Finally, the adjusted gross income must be less than $95,000 for an individual or $170,000 for those filing jointly.

How does it work?

You receive a tax credit when you file your 2009 tax returns of 10% of the sales price of your home (maximum tax credit of $8,000). Tax credit does not have to be repaid as long as you own the home for at least 3 years. Earn your tax savings during your first year of home ownership!