As you know, home buyers can claim a special tax credit worth up to $8,000. The American Recovery and Reinvestment Act offers qualifying home buyers a tax credit equal to 10 percent of a home’s purchase price, up to a maximum of $8,000. The tax credit is offered to first time buyers, and those who have not owned a principal residence in the past three years. To be eligible for the tax credit, buyers must meet general income requirements and close on their purchase before December 1, 2009.
Given that it often takes a first-time homebuyer 30-60 days to line up financing, learn about the homebuying process, and find a home, then 30-60 days for closing, time is running out!
Clients of ours are excited to be buying their first home in Galesville, Maryland, enjoying not only this $8000 tax credit but also 100% financing, including closing costs, due to a special program supported by Anne Arundel County, taking advantage of federal, State and County dollars for affordable housing.
Please contact me today for more details on these valuable programs. I look forward to helping you and your friends build your real estate portfolio.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland