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familyhomefundingcorp
The FHA Specialists
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Besides the advantages of FHA mortgages for first time homebuyers, the Economic Recovery and Reinvestment Act now allows an $8,000 tax credit for first time homebuyers in the United States in conjunction with FHA mortgages. - The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
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. The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
CALL TODAY TO SEE HOW TO MAKE THE $8,000 TAX CREDIT WORK FOR YOU 973 283-8111
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