President Bush signed into law a bill granting a $7500 tax credit for first time home-buyers purchasing a owner occupied residence on or after 01 April 2008 and before 01 July 2009.
It amounts to a 15 year interest free loan on 10% of the cost of the home up to $7500. The qualified recipient will receive their credit in the form of a lower tax bill and/or a greater refund on their 2008 Federal income tax filing.
Please call The David M. Damare’ Team at 919.851.0999 if you or anyone you know may qualify and has any further questions.
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Stay tuned and stay in touch with your mortgage professional. Thank you for the opportunity to serve you and your clients. David. 919.851.0999.