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Included a first-time home buyer refundable tax credit for purchases on or after April 9, 2008 and before July 1, 2009 equal to 10 percent of the purchase price of a principal residence, up to $7,500. Phased out the credit for taxpayers with incomes over $75,000 ($150,000 for joint returns).
President Obama and Senate Democrats hinted that they would be willing to compromise on Republican suggestions to increase infrastructure spending and to double the housing tax credit proposed from $7,500 to $15,000 and expand its application to all home buyers, not just first-time buyers. [19]
First-time home buyer grant. A first-time home buyer grant (or first home owners grant) is a grant specifically for/targeted at those buying their first home – perhaps a starter home. Like other grants, the first-time buyer does not hold an obligation to repay the grant. In this respect, it differs from a loan and does not incur debt or interest.
First-time homebuyer tax deductions A tax credit for first-time homebuyers could be a powerful way to save money on your first home, but it’s not the only way to reduce your expenses.
Obama extended an $8,000 tax credit to first-time home buyers, a program begun under the previous administration, giving home buyers until June 2010 to close on their purchase and still remain ...
8 first-time homebuyer grants to consider. 1. National Homebuyers Fund. The nonprofit National Homebuyers Fund sponsors down payment and closing cost grants that can total up to 5 percent of your ...
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