IF YOU ARE A FIRST TIME HOMEBUYER AND BUY A HOUSE ANYTIME DURING THE REMAINDER OF 2008 AND ON OR BEFORE JULY 1, 2009 YOU ARE ELIGIBLE FOR A $7,500 TAX CREDIT
The single largest provision in the recently enacted “Housing Assistance Tax Act of 2008″ is a measure allowing First Time Homebuyers to take a tax credit of up to $7,500 of the purchase price. The tax credit allows qualified homebuyers to subtract the credit amount from their federal income tax when they buy a home. They are then required to pay the credit back over 15 years. The result is that the credit resembles an interest-free loan that must be repaid to the government.
If you are looking for austin real estate and you are a first time homebuyer who would like to learn more about this program simply login to our website, http://austinrealestate.homecity.com and ask to have a loan officer from our preferred lender, Crosstown Mortgage, contact you.