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$8,000 Home Buyer Tax Credit Information
The new home buyer tax credit is $8,000, and DOES NOT have to be repaid, and is refundable, meaning that you get all $8,000. The income cut-offs for the credit are: $150,000 for a couple and $75,000 for a single filer. You have to be a homebuyer that hasn't owned a home in the last three years.
The amount of the credit remains 10% of the purchase price of a principal residence of a taxpayer who has not owned a U.S. principal residence in the previous three years. Recapture still applies if the taxpayer disposes of the home or no longer uses it as a principal residence within three years after purchase.
Don't have enough for a down payment?
We offer a statewide program with below market interest rates on an FHA, VA or Conventional loan programs to qualifying first time buyers. Special down payment assistance packages up to $14,999 available to qualifying applicants.
We have additional down payment assistance programs that can be combined with the initial program for even more assistance. Additional funds are available in the Twin City area such as Edina, Minneapolis, Chaska and Plymouth just to name a few. Many Metro area counties like Anoka and Hennepin have additional funds that we can layer in to help with down payment.
Today, nearly everyone can realize the American dream of homeownership, while building equity, receiving tax advantages, and creating a place to call home. Tim's Citywide Team helps dreams come true. Our Mortgage Specialists educate homebuyers about the many facets of home buying, determining what is the best loan available to meet the borrower’s needs, and patiently and professionally guiding them through the entire process.
Tim's Team offers FHA, VA and Conventional fixed rate and adjustable rate loans and can help with:
* Fast and easy credit approval
* Down payment assistance available
* Minimal or no down payment required
* Lower monthly payments with flexible programs
* 30-year fixed rate loans with today's low rates
* Liberal credit qualifications
Tim's Citywide Team listens carefully to your needs, and then helps select the best available loan. We’ll guide you through the loan process and guarantee complete satisfaction. Live the American dream. Call a Tim's Citywide Team Specialist today to help make your dreams come true.
Find out more about FHA Loans
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