First -Time Homebuyer Tax Credit

December 16, 2008

First – Time Homebuyer Tax Credit

On July 29, 2008 the President signed The Housing and Economic Recovery Act of 2008 into law.

• Amount of credit is 10% of the cost of the home – $7,500 maximum.

• Effective on purchases made between April 9, 2008 and July 1, 2009

• Homebuyers must repay the tax credit in 6.67% increments over 15 years.

See the attachment for a publication from AHBA with more on this subject.

Interest rates are low – Now is a GREAT time to buy a home! Oak Grove has a variety of homes for you to choose from. Contact us for more information.

Martha Cooper 770-540-9262 martha.cooper@coldwellbanker.com

Homebuyers should seek the advice of a tax advisor to fully understand the benefits and limitations of this program.