What is a First-Time Homebuyer Tax Credit?
If you haven’t owned a home in the last three years, you owe it to yourself to consider the Homebuyer Tax Credit Program. Eligibility allows you to apply up to 20% of the interest on a new mortgage loan toward your federal income tax! Coupled with other low or no-down options, owning a home may be easier than you think!
- Dollar-for-dollar Tax Credit
- Mortgage offsets your taxes
- Saves thousands
- Increases your available income
- Easier loan qualification
- Easier home ownership
Example: On a $200,000 mortgage at 4% interest, you will pay $8,000 in interest alone in the first year. Twenty percent of this (or $1,600) could be used to lower your federal tax bill. On average this is $133 per month savings.
Eligibility: Any first time homebuyer or qualified veteran who meet income and purchase price limits.
Why wait? Contact us now to find out if this is right for you!