The Federal Tax Credits Blog

Posts Tagged ‘first time home buyer credit eligibility’

Question: If you bought a house in August 08 can you still qualify for the tax refund?.?

THIS IS THE PART THAT HAS ME CONFUSED:

Different income eligibility limits apply depending on when you bought the house. If you purchased it before November 7, 2009, you are eligible for the full first-time home buyer’s tax credit if you are single and your income didn’t top $75,000 or if you are married and your joint income didn’t exceed $150,000. The credit phases out for individuals with incomes up to $95,000 and married couples with joint incomes up to $170,000, disappearing above those income levels.
We did not own a house for 4 years before this purchase, so I know we qualify as a first time home buyer. It states that you must not have owned for at least 3 years before.
We are married, and live on one income of $60 a year.

Answer: You are eligible for $7500 refundable interest free loan payable in 15 years.

Opportunities To Have A Tax Effective Investment Home Loan In The Lead Up To June 30, 2010

Australia’s leading mortgage broker, Aussie Home Loans, today urged investment property owners to investigate to minimise their tax exposure in the lead-up to the end of the financial year on June 30, 2010.

Married Couples and the Home Buyer Tax Credit.mp4

Question: I am looking at buying a house (I am a first time home buyer credit)?

Hello I am looking at buying a house. I am a first time home buyer and so I am thinking I will get the tax credit, but I am not sure because I will need a co-signer (my mother who is not a first time home buyer) will this effect my eligibility for the tax credit?

(not that this matters for the question, but I am sure people will think I am getting over my head if I need a co-signer)
1) I will not qualify for a loan on my own
2) I am not buying a house I cant afford I will have roomates (and beable to pay on my own if they screw me) Also I will be putting down over 10%

Answer: As long as the deed/title of the house is in your name, you should qualify for the first time home Buyers Tax Credit. Whose name the mortgage is in is not as important…

Homebuyer Tax Credit: What does it mean?

January 18, 2010 A Federal Tax Credit Extension signed into law in November extends the $8,000 first-time home buyer tax credit that was originally set to expire the first of that month. What does it mean for home buyers?

How to Use the Home Buyer Tax Credit to Invest, Buy for Someone, or Downsize.mp4