$8000 Tax Credit for First Time Buyers — Limited Time!

chibootcamp — Wed, 18 Mar 2009 01:23:29 +0000

As part of the Obama Administration’s housing plan, first time buyers have extra incentive to purchase a home — but they must act quickly.

Here is the $8,000 Home Buyer Tax Credit at a Glance:

The tax credit is for first-time home buyers only (this also applies to anyone who hasn’t owned a home in the last three years).
The tax credit does not have to be repaid, unless you sell your home in the first three years.
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. A partial credit is available past those amounts, but everyone should consult their tax advisor for details.

The main thing to take away from this credit is that it works as a dollar-for-dollar credit — not a deduction. If you owe the federal government $1000 at the end of the year, this credit would eliminate that amount AND give you $7000 in return.

Boot Camp is Back!

chibootcamp — Tue, 17 Mar 2009 21:58:34 +0000

Do you want to buy a home but don’t know where to begin? Then come to the Boot Camp’s basic training seminar on April 2, 2009, at DePaul University. This one-hour, free seminar will answer the questions you have and offer ideas, tips, and insight that you previously didn’t.

To reserve your space, email Christian (clebarton@gmail.com) or Lindsey (lindseymarcus2@gmail.com) today. Each attendee is welcome to bring one guest, so grab a friend and join us!

Chicago Home Buyer Boot Camp

$8000 Tax Credit for First Time Buyers — Limited Time!

Boot Camp is Back!