First Time Home Buyers Get Tax Credit From The Government, And It's Free!

Prior to 2009 and of course the signing of the Economic Stimulus Package by President Obama in Denver last week, there was a $7500 tax credit made available to first time home buyers.  This was a tax credit that could be "cashed in" so to speak at the time you did your taxes.  You would receive the benefits of this tax credit in the form of a check from the government if you didn't owe more than you were to receive.

Previously, although you received this tax credit, you had to pay it back in $500.00 yearly installments until the $7500.00 was paid in its entirety.  Guess what!  That repayment plan has been waived and so you no longer have to pay back the tax credit to the government.  It's one of the best parts of the economic stimulus plan, and it's only for first time home buyers.  To qualify, there are guidelines you must adhere to and if you call my office, I'd be happy to go over those with you.  This "good news" does have an expiration date however.  It's December 1, 2009.  You have all year to take advantage of this wonderful boost and it's only for you, the first time home buyer.

If I can help you further with any of your Cedar Rapids real estate questions, please contact me or email me. 

Christopher Smith

Traditions Real Estate

www.christophersmithrealtor.com

christopher.smith.realtor@gmail.com

319-329-5988

Licensed Realtor in the state of Iowa

"Success in real estate at the SERVICE of others"

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