The American Recovery and Reinvestment Act of 2009, known to most as the first time home buyer program, is slated to end at midnight on November 30, 2009.
There is some lobbying going on for the program to be extended. But you can never count on the government to do so therefore the time to act is now!
The tax credit is for first-time home buyers only. The IRS says a first-time home buyer is someone who has not owned a principal residence during the three-year period prior to the purchase.
Unlike some previous incentive programs the tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
For more information on the first time buyer program, contact your local mortgage lender and then call me if you are in Brevard County, Florida! Don’t know a lender, call me at 321-693-3850 or email firstname.lastname@example.org.
Gary L. Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region. Whether your interest lies in a 55+ community, a golf course community or water front, give me a call!