Michelle VANCIL    "exceptional service every time"
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Phone 303-588-4847
Fax 303-443-1440
1938 Pearl Street
Suite #200
Boulder, CO 80302
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First Time Home Buyers
 
Important Information About the First Time Home Buyer Tax Credit - Available Until November 30, 2009


 $8,000 Home Buyer Tax Credit at a Glance
 
A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.
  • The tax credit is for first-time home buyers only. The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. 
  • 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. The credit phases out for single taxpayers with adjusted gross incomes that exceed $75,000 (or $150,000 for married couples filing jointly).  
  • The buyer will forfeit the credit if he or she sells the house within three years.
  
 
Buying Your First Home? Make sure you choose a REALTORŪ who will be your professional guide every step of the way. As your Boulder County real estate professional, it's my job to guide you, from beginning to end. There are no dumb questions!
Request a FREE comprehensive home buying packet, created to introduce you to the basic steps of the home buying process.
Together, we will consider:
  • The advantages of working with a buyer's agent.

  • How much can you really afford?

  • How to qualify for a mortgage.

  • How much your payments will be?

  • The tax advantages of buying.

  • Is renting or buying better for you?

  • The importance of a home inspection.


    • New to the home buying process? Tell me your concerns. Ask me questions. Contact Michelle today.

    10 Tips for First-Time Buyers