Hi, I'm Michael Alban from TurboTax with a news flash for homebuyers and homeowners. In November 2009, the federal government extended and expanded the popular First-Time Homebuyer's Credit program. It lets you trim your tax bill by up to $8,000, a boon to homeowners facing mortgage pa...
Note: The content of this article applies only to taxes prepared for 2010. It is included here for reference only. When two unmarried individuals buy a home together, who gets the $8,000 First-Time Homebuyer Credit? There's only one credit per home, and
to both first-time homebuyers and people who already own a home. Still, FHA andFannie Maemortgages can sometimes be more attractive to first-time homebuyers. These loans focus on borrowers who may struggle to afford the larger down payment and higher credit score requirements of conventional ...
KILLER IRS - FIRST-TIME HOMEBUYERS CREDIT FOR 2010 / DO I...Joe Mastriano CPA
Gwinnett Neighborhood Stabilization Program Gives $14/$22K to low/moderate income homebuyers. Gwinnett NSP accepts 30 years FHA and VA loans and homebuyers need to contribute only 1% down payment Federal home grants: This time Uncle Sam has some money for you. ...
Looking for a First-time home loan, FHA, VA, in Branford, New Haven County? You may be qualified. A mortgage consultant from Gregg Pomeroy - Bank Of England Mortgage can help you determine if that is the right mortgage option for you.
One of the main ways that down payment assistance programs help first-time homebuyers is by offering cash grants for down payments. These grants can be provided by state or local governments, or by employers, credit unions, private banks, and other financial institutions. Regardless of where...
"We opted to buy an older home, so the tax credit helped us to fix some things that needed attention, which we wouldn't have been able to do otherwise." The credit was available to first-time homebuyers during the time frame of April 8, 2008 to May 1, 2010, for the purchase of ...
The first-time homebuyer tax credit applied only to homebuyers with incomes under a set level. When the program began, an individual homebuyer was required to have amodified adjusted gross income (MAGI)of $75,000 to $95,000. The cap for a married couple filing jointly was $150,000. Thi...
Although the agency itself does not make grants to individuals, it does grant funds earmarked for first-time homebuyers to organizations with Internal Revenue Service (IRS) tax-exempt status. The HUD website has details.3 Look to Your IRA Every first-time homebuyer is eligible to take u...