First Time Homebuyer Tax Credit News

Great news on the First Time Homebuyer Tax Credit plan

The First Time Homebuyer Tax Credit gets you 10% of the value of the home up to$8,000! If you do not owe $8,000 in taxes, you receive the balance in cash via a check mailed directly to you.

You may qualify for the first time homebuyer tax credit program if you meet the following criteria:

1. Have not owned a home as your primary residence for the past three years.
2. Your income doesn not exceed $125,000 for individuals of $445 for married filing jointly
3. You must have a signed contract on a property by April 30, 2010 (you get an additional 60 days to close)
4. The home you are purchasing is going to be your primary residence
5. You are 18 years or older and are not a dependent of the seller
6. The home may not sell for more than $800,000 to qualify and if you resell the home within three years, there may be a credit repayment penalty

For all the details visit WaHomeowners.com for complete details.