Agent619.com Real Estate

Quick Information About the Federal $8000 Money For First Time Home Buyers

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WHO QUALIFIES

• never owned a home, YOU QUALIFY
• owned a home, but sold it 3 years ago and renting ever since, YOU QUALIFY
• owned a home (vacation home or rental property) and have not used it as primary home in 3 years, YOU QUALIFY
• if married, 1 person owned home a home within 3 years ago, THEY DONT QUALIFY
• if un-married, but buying home together and 1 partner owned a home within 3 years ago, OTHER PARTNER QUALIFIES
• if parents cosign on mortgage with child, child is a first time home buyer, 18+ yr old child QUALIFIES FOR PROGRAM
• non-US citizens qualify if meet residency status bai IRS PUB 519

DETAILS

• purchase and close escrow between Janruary 1 thru December 1 of 2009
• property type can be
  • single family
  • 2-4 units (must occupy 1)
  • condo or townhouse
  • manufactured home
  • mobile home
  • houseboat

• income limit

1. 1 person = $75,000-$95,000
2. 2 person, married = $150,000 - $170,000 $tax credit is 10% of sales price, max amount is $8000

• repayment
  
  1. ZERO dollars if own home or 3 years
  2. 100% of tax credit if home sold within 3 years

Give me a call or email to talk about this program. It's the end of October and the deadline is about 4+ weeks away. We better get home shopping quick!