Skip to main content

2009 Homebuyer Tax Credit Guide

The homebuyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009.

The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

Chart Highlighting the Major Modifications to the First-Time Homebuyer Tax Credit> (PDF: 309K)

Frequently Asked Questions> (PDF: 483K)

Download the IRS First-Time Homebuyer Tax Credit Form 5405> (PDF: 257K)

NAR's Presentation: The 2009 First-Time Homebuyer Tax Credit> (PDF: 319K)


NAR's Presentation: The 2009 First-Time Homebuyer Tax Credit> (PPT: 218K)
Labels:

Comments

Post a Comment

Popular posts from this blog

Low home loan rates create more affordable housing.

HOME LOAN RATES REMAIN LOWER:    NOW MAY BE THE PERFECT TIME TO SEE HOW MUCH YOU CAN SAVE ON YOUR NEXT MOVE.  HAVE YOU BEEN CONSIDERING DOWNSIZING, UP-SCALING,  MOVING TO A BETTER NEIGHBORHOOD OR SCHOOL DISTRICT?   IF YOUR CURRENTLY RENTING THIS IS ALMOST A NO BRAINIER, WHEN YOU COMPARE YOUR RENT TO YOUR INVESTMENT IN OWN HOME.    TODAY'S  CONFORMING LOANS TO 417K OFFER THE FOLLOWING: 5/1 ARM: 3.25%with zero points 10 Year Fixed: 3.375% with zero points 15 Year Fixed: 4% with zero points 30 Year Fixed: 4.75% with zero points. JUMBO TO 729K 5/1 ARM: 3.5% with zero points 10 Year Fixed: 3.875% with zero points 15 Year Fixed: 4% with zero points 30 Year Fixed: 4.75% with zero points out-of-pocket cost is for the appraisal. SUPER JUMBO TO 1.5MM 5/1 ARM: 4% with 1/2 point 30 Year Fixed: 4.75% with 1/2 point    Special attention to consider the 30 year fixed rate on Super Jumbo. This rate has never been...
Post a Comment
Read more

MOLD!!!!

The word "mold"has become a household name. It seems that there is so much information out there about health and air quality in our immediate environment stems back to "mold". It is as big an issue as the dreaded Termite problem. This is now so big that even home insurance companies may not issue new home owners coverage until they come to photograph key locations in your home to ensure that you do not have existing "mold". Insurance companies can go so far, as excluding coverage for any pre existing mold in your house. So what is the big issue with "mold" and why are we so cautious today? Well, recent studies show how sick it can make you and your loved ones in the home. It may well be the source of many allergies, and many other problems that we had not even noticed in the past years. Sometimes "mold" can be very obvious, and sometimes not If you are living in an old home, as many are in the US then chances are you may have mold in s...
Post a Comment
Read more

Santa Clarita 2010 Concerts in the Park Lineup Promises a Rockin' Good Time

Santa Clarita CA:  2010 Concerts in the Park Lineup Promises a Rockin' Good Time The City of Santa Clarita’s Concerts in the Park series is one of the most popular summertime traditions year after year. The free annual concert series begins July 10th and runs through August 28 th , with all shows starting Saturdays at 7:00 PM at Central Park. The 2010 series will kick off on July 10 with a performance by Incendio . Famous for their invigorating live shows and four critically acclaimed albums, the band showcases an infectious world fusion and Latin guitar sound sure to bring even the most reserved concert attendees to their feet. “ Concerts in the Park is one of the City’s most celebrated summer traditions and the City is proud to once again present the popular event at no cost to attendees,” said Mayor Laurene Weste. “Community members are encouraged to bring lawn chairs, blankets and the entire family to enjoy fantastic performances all summe...
Post a Comment
Read more