How the First Time Home Buyer Credit works in Charlotte, NC
Buyers are still skeptical about the First Time Home Buyer Credit and how it works. Yes the buyer who bought or is buying Real Estate in Charlotte, NC or anywhere in the 52 states between April 2008 and December 2008 does in fact receive 10% of the purchase price not to exceed $7,500 as a 0% interest loan credit when filing their 2008 income taxes. That means that if you bought a home with a purchase price of more than $75,000 you will receive $7,500. There are some income limitations to qualify for the credit but it is to encourage the first time home buyer with a great jump start as a no interest loan that as long as the new owner lives in that house and is their primary residence the government will forgive $500 every year until the $7,500 is all paid off.
For more information about the credit go to IRS First Time Home Buyer Credit.
Keep posted for more information about this credit or contact us YourCharlotteAgents.com
Thinking of Buying a home in Charlotte, NC?
Wow, if buying a home was always a good idea, buying now is a great idea. With the new Federal and North Carolina laws first time home buyers who qualify could receive a forgivable refundable credit of up to $8,000 or 10% of the purchase price when buying a home between January and December of 2009. The best thing of all is that you can claim the credit in your 2008 taxes!!
For more information about the credit visit the IRS First Time Home Buyer in 2009
To start the process of getting this credit or find out about more programs go to our website YourCharlotteAgents.com
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