Colorado Springs Real Estate

Good News for First-Time Home Buyers

The new Housing and Economic Recovery Act of 2008 provides a $7,500 tax credit for first-time home buyers and other buyers who have not owned a home in three years. A tax credit is a dollar for dollar reduction in what the tax payer owes. That means that a taxpayer who owes $7,500 and receives a $7,500 tax credit would owe nothing to the IRS. The home must be purchased on or after April 9, 2008 and before July 1, 2009.

The credit does have a 15-year interest-free pay back provision, as well as some personal income restrictions. We can help determine if you qualify for the tax credit.

Please use the form below to request more information on this tax credit.

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Please contact me about the tax credit and how it can help me buy my new home.

I am a first-time buyer.

I haven't owned a home in three years, or it will be three years by the time I close.

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